Taylor Woodrow - Offices Sale - Croydon, Sydenham Road, Metro Point

Date: 14 Jun 2002

Taylor Woodrow and Palace Street Developments have completed the sale of Metro Point, Sydenham Road, Croydon, to a private investor for £11.65 million at a net initial yield of 6.61%.

The 3,768 sq m (40,564 sq ft) development is let to the Secretary of State for Transport, Local Government and the Regions at a rent of £215 per sq m (£20 per sq ft) on an 18-year lease, which commenced in March 2002.

James Henderson, director at Taylor Woodrow, said: “The interest in Metro Point has been extremely high and we received 12 competitive bids before completing the sale to the private investor.

“The building was let within two weeks of practical completion and sale took place just six weeks after. The success of this scheme demonstrates that this sort of product is very popular and we are looking to create similar developments in the future.”

ATIS Real Weatheralls acted for the private investor and Taylor Woodrow represented itself.

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Property Newsletter » Submit news