Standard Life Investments has sold its freehold interest in Lakeside House, Stockley Park, Heathrow to Refuge Assurance for £34m. The sale price reflects a yield of about 5.75%.
The 6,688 sq m (72,000 sq ft) building is occupied by Regus on a 15-year lease from March 1999 at £2.027m pa reflecting a yield in the region of 5.75%.
Standard Life bought Lakeside House in November 1997 for £25.5m and invested another £1.8m in internal refurbishment.
EGi News 17/08/00
