Westmoreland puts trio of offices on the market for £22m

Westmoreland Investments has appointed Acre Capital Real Estate to offload its Trigon Portfolio, comprising three regional office buildings. The price tag on the portfolio,  which extends to 152,879 sq ft, has been set at £22m, reflecting a net initial yield of more than 8%. It comprises an 82,760 sq ft building at Castle Wharf in Nottingham, Longbrook House – a 48,965 sq ft building in Exeter, and a 21,154 sq ft office at Sovereign Quay in Leeds (pictured).  Westmoreland has invested £7.3m over the past two years to refurbish all buildings within the portfolio to grade-A specification. Occupancy levels across the portfolio stand at 67%, generating an annual rent roll of £1.9m, with weighted average unexpired lease term of almost seven years.