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Royston Investment Sold

Oct 20, 2014

Barker Storey Matthews Cambridge office has sold The Lanterns, 16 Melbourn Street, Royston, comprising a multi tenanted office building, to private investors, achieving a net initial yield of 9.35%.

 

Royston Investment Sold

The property, comprising eight office suites fully let and income producing, sold for a figure of £960,000. Ben Green, Director at Barker Storey Matthews Cambridge office comments "the purchaser was attracted by the high yield this investment offers. There are some long-standing tenants and re-letting prospects should any suites become vacant are good given the shortage of quality offices in Royston and improving market conditions. In addition, the office property offers the potential for conversion to residential in the future".

He adds "we are seeing a rise in enquiries for secondary property investments such as this which offer attractive yields compared to prime investments which have seen significant yield compression in the past year or so".


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