CB Richard Ellis Investors announce that its Strategic Partners UK team has sold One Leeds City Office Park to Credit Suisse for £17.17 mln. representing a net initial yield of 8%.
CB Richard Ellis Investors announce that its Strategic Partners UK team has sold One Leeds City Office Park to Credit Suisse for £17.17 mln. representing a net initial yield of 8%.
The property comprises of 60,000 sq ft of office accommodation let to Trillium Prime Property GP Ltd. The property is let on three separate leases recently agreed at approximately £21 per sq ft, for a term of 15 years with a break available at the tenth year.
Strategic Partners UK purchases, repositions, develops, holds for investment and sells institutional quality real estate throughout the UK. The value-added investment strategy of the funds is based on four key areas: refurbishment; leasing of space and/or lease repositioning; intensive asset management; and development. The Principals’ investment experience includes the execution of 63 value added investments with a total asset value of over £950 million.
