CASE STUDIES
Case Studies
Investment
Cambridge Science Park, Cambridge
The investment team advised Sanderling Estates LLP on the purchase of the leasehold interest in Unit 270, Cambridge Science Park, Cambridge from TR Property Investment Trust Plc, managed by Thames River Capital LLP, for £6.7 million reflecting a net initial yield of 9.0%.
The 38,900 sq ft office building built in 1989, is let in its entirety to RBS Worldpay on a lease expiring in December 2015 at a gross rent of £750,000 per annum (£19.28 per sq ft overall).
The property is held on a 125 year lease expiring in December 2112 at a geared rent of 15% of the rents receivable.
The freehold is owned by Trinity College, Cambridge.
Hartnell Taylor Cook LLP advised on the purchase jointly with Bray Fox Smith.
Client - Sanderling Estates LLP