ELP Properties has sold John Sinclair House in Edinburgh for £5m, reflecting a yield of under 8.5%.
The 3,000 sq m (32,292 sq ft) office building is let to the Secretary of State for the Environment on a long lease, at £434,000 pa.
Grimley’s Bill Binnie, who advised ELP, said: “The level of price achieved reflects the strength of demand in the market for quality office investments let on long leases to strong covenants.”
EGi News 12/03/97
