UK investment manager Schroders said on Tuesday that it is seeking offers over £61 mln (€69 mln) for the Davidson House mixed-use asset in central Reading, UK.
The scheme provides a total of 121,000 sq ft (11,250 m2) of commercial space, including five floors of Grade A offices and ground floor retail and restaurant units and 113 parking spaces. The sale at the asking price would reflect a net initial yield of 6%.
Current occupiers include Regus, Network Rail, Santander and Carluccio’s at a passing rent of £3.9 mln, with around 11,000 sq ft of office currently unlet.
Gerald Eve has been appointed to handle the sale but declined to comment.
