Insurance company M&G is to take the first phase of Countryside Properties’ Coval Wells office scheme in Chelmsford – the 3,066m2 (33,000 sq ft) Levick House (above). A rent of £231 per m2 (£21.50 per sq ft) has been agreed – the highest in Chelmsford this cycle. The Levick investment has been sold to Canada Life for £9.2m, at a yield of 7.25%. Insignia Richard Ellis and Taylor & Co were letting agents; M&G was advised by Matthews & Goodman.
Insurance company M&G is to take the first phase of Countryside Properties’ Coval Wells office scheme in Chelmsford – the 3,066m2 (33,000 sq ft) Levick House (above). A rent of £231 per m2 (£21.50 per sq ft) has been agreed – the highest in Chelmsford this cycle. The Levick investment has been sold to Canada Life for £9.2m, at a yield of 7.25%. Insignia Richard Ellis and Taylor & Co were letting agents; M&G was advised by Matthews & Goodman.
