HQ office sold for € 4.66 million
Imperial House sold € 4.66 million in the building in Newport, England.
The buyer, who bought the office, has a joint venture with Knight Frank’s M1 Agency. An 8% Net First Yield (NIY) of an office building of 26,672 square meters is represented.
The open-plan two-storey office at the Imperial Park is 9,55 years. The building attracts around £ 400,080 a year. The office building is located in an important business area.
Gareth Lloyd, partner in the Knight Frank Capital Markets team in Cardiff, said: “Imperial House offers the opportunity for strong rental growth following the game-changing benefits of several infrastructure improvement initiatives which are all underway, and which are increasing the profile of Newport as a major regional city.”
Christopher Turner, director of vendor Urban Logistics REIT plc, said: “We acquired Imperial House as part of a portfolio of investments in 2016. By selling it at this stage we can reinvest funds into industrial and logistics property which align more closely with our overall investment portfolio.”
Sevdenur Demir / [email protected]