Scottish Life has sold three south east properties for more than £41m. The proceeds are to be reinvested in properties with a more favourable risk-return profile.
Beaufort House, Cricketfield Road, Uxbridge, and Bourne House, The Causeway, Staines, have been sold to Tameside for £26.75m on a yield of 7%. The 4,083 sq m (43,945 sq ft) Beaufort House is let to Scoot.com for 15.5 years while Bourne House is let to United Biscuits for a further 16 years.
Scottish Life has also sold 40 Clarendon Road, Watford, to Morley Properties for £14.75m on a yield of 6.41%. It is let to Total Oil for a further 13 years.
Jones Lang LaSalle acted for Scottish Life while Dunlop Heywood acted for Tameside. Strutt & Parker represented Morley.
EGi News 13/10/00
