Offshore trust Dornbusch Trenter has paid £1.726m – reflecting an initial yield of 8.75% – for 2,090sq m (22,500 sq ft) of recently completed offices in Wolverhampton, West Midlands.
The building, at St Georges Ringway, south east of the town centre, attracted an English Partnerships grant of £597,760 for site clearance and decontamination. On practical completion, the offices were let on institutional terms at a starting rent of £74.27 per sq m (£6.90 per sq ft.
The vendor, developer Peter Maddox & Associates, was unrepresented. The purchaser was advised by Bulleys Commercial and Wilkinson Williams.
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EGi News 11/04/96
