Food company and Kit-Kat maker Nestlé is considering taking a break from its Croydon headquarters. The firm is looking to move to a 150,000 sq ft office complex in the Thames Valley. The food manufacturing giant currently occupies 150,000 at St Georges House.
Roger Smee’s Rock Capital has made a £5m profit on a leisure scheme it bought last April. The group has sold the 204,000 sq ft Leisure Exchange in Bradford to Legal & General’s £200m leisure fund for £48.7m, a 5.45% initial yield. DTZ advised Rock. Savills acted for L&G.
Robin Pugh is to become the latest executive to step up by joining Jones Lang LaSalle’s City agency team. Pugh, 34, was an associate at DTZ’s City agency team and also worked in its Bristol investment team. He will join Jones Lang LaSalle at the end of May.
Private clients of Churston Heard have sold a portfolio of three retail parks to Britannic UK Property Fund for £50m – a 5% yield. The portfolio comprises parks in Chippenham, Wiltshire, Sudbury in Suffolk and Harwich in Essex. Morgan Williams advised Britannic.
Threadneedle Property Investments, on behalf of Zurich Assurance, has bought Saffron House at 6-10 Kirby Street and 26-28 Glasshouse Yard, both in EC1, from Bee Bee Developments for £50m, a 5.83% yield. Michael Elliott advised Threadneedle. Bee Bee was unrepresented.
