Mellersh and Harding - Industrial Sale - Milton Keynes, Leica Building

Date: 04 Dec 2002

Troubadour Properties, fund manager to The Trustees of the Bhs Pension schemes has bought the Leica Building in Milton Keynes from Hermes for £3.573 million, reflecting a net initial yield of 9.26%.

The Leica Building comprises a modern single storey research and development production facility of approximately 3,502 sq m (37,698 sq ft). It is let to Leica Microsystems (UK) Ltd on a 25 year FRI lease from 1988. Passing rent is at £350,000 per annum.

King Sturge acted for Hermes in the transaction, whilst Mellersh and Harding acted for the Bhs Pension schemes.

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