The Regional Office Property Unit Trust (ROPUT), advised and managed by global investment manager Schroder Real Estate, has acquired The Building, Chiswick; Centrium, St Albans; and Delta House, Glasgow from Colony Capital for a combined total of £31 mln (€35 mln).
The price reflects a net initial yield of 6.5%.
'This portfolio acquisition offers three good quality, fully let office buildings in strong locations let to good covenants,' said Tom Newman, investment manager at Schroder Real Estate.
'The acquisition ends a successful year for ROPUT and Schroder Real Estate with additional acquisitions across the regional office market including Cardiff, Nottingham and Edinburgh.'
The Building, Chiswick is a standalone office with ground floor retail space. Built in 2007, the property comprises 21,762 ft2 (2,020 m2) over five floors with tenants including Deloitte and Berry Appleman & Leiden.
Centrium 1 (pictured) is an office building in St Albans City centre, which comprises 20,949 ft2 over four floors with tenants including Michael Page International and Sketchers USA.
Delta House, an office building in Glasgow’s central business district, totals 34,096 ft2 over the ground to ninth floor with tenants including The Scottish Ministers and NewLaw Legal.
'ROPUT now has 15 assets offering good fundamentals'added Newman, with 'up to £100 mln of further funding for immediate investment'.
CBRE acted for Schroder Real Estate.
