FPDSavills - Offices Sale - Colchester, North Station Road, Riverside Office Centre

Date: 04 Oct 2002

Frincon Securities has sold the freehold interest of the Riverside Office Centre, North Station Road, Colchester, Essex to clients of LaSalle Investment Management for £6,017,500, reflecting a net initial yield of 9.38%.

The 7,139.44 sq m (76,849 sq ft) recently refurbished office complex comprises three multi-let office buildings including retail accommodation totalling 1,326.32 sq m (14,277 sq ft). Tenants include The Secretary of State for the Environment, T&S Stores Plc, Lloyds TSB Bank Plc and WS Atkins (Services) Ltd paying a total rent of £596,679 pa.

FPDSavills advised Frincon Securities.

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