LaSalle Investment Management has completed the purchase of a Stockley Park office block in Uxbridge, Greater London, for £22 mln (EUR 26 mln), reflecting a net initial yield of 8.82%. The vendor was Invista Real Estate.
LaSalle Investment Management has completed the purchase of a Stockley Park office block in Uxbridge, Greater London, for £22 mln (EUR 26 mln), reflecting a net initial yield of 8.82%. The vendor was Invista Real Estate.
The refurbished 77,827 sq-ft (7,220 m2) Grade A office building is located within the Stockley Park business park, which provides over 1.74 million sq ft of Grade A office accommodation in 26 office buildings.
'The building is well placed to benefit from a strengthening occupational market and provides a good opportunity to generate value for our institutional investors,' said Nneka Ejindu, asset manager at LaSalle.
LaSalle was advised by Jones Lang LaSalle. CBRE acted for Invista.
