Great Portland Estates has sold the 78,000 sq ft (7,246 sq m) Freeman’s call centre in Sheffield to a private US investor for £15m.
The building is let to Freeman’s at a rent of £1.22m pa on a lease with 20 years unexpired, and represents a yield of 7.7%
Peter Shaw, managing director of GPE, said: “The sale of this call centre continues our strategy of focusing our portfolio. In less than three years we’ve sold over £850m of properties, primarily outside our core area of central London and offices in the South East.”
Chapman Petrie advised GPE, while Egan Lawson represented the US investor, which is conducting a major acquisition programme.
EGi News 21/03/02
