Wilson Bowden has forward sold and prelet its final office building within its Victoria Quays scheme in Sheffield.
The developer has forward sold the investment of the 3,156 sq m (33,970 sq ft) Navigation House for £5.16m to an offshore investor client of Bilsdale Properties, which has been advised by Hanline Associates. The deal represents a net initial yield of 7.6%.
The building has also been prelet to Parexel International on a 20-year lease with a break clause after 15 years, at a rent of £148 per sq m (£13.74 per sq ft).
Knight Frank advised Wilson Bowden.
EGi News 22/11/00
