Troubadour Properties, fund manager to the trustees of the Bhs Pension Schemes, has bought the Leica Building in Milton Keynes from Hermes for over £3.5m.
The deal represents a net initial yield of 9.2%.
The single-storey, 37,698 sq ft (3,502 sq m) Leica Building is home to a research & development centre.
It is let to Leica Microsystems on a 25-year FRI lease, which started in 1988, at a rent of £350,000 pa.
King Sturge acted for Hermes and Mellersh & Harding represented the Bhs Pension Schemes.
EGi News 03/12/02
