ACRE Capital are capable for I.M Properties
ACRE Capital Real Estate acting on behalf of I.M Properties have advised on the investment disposal of three office buildings at Capability Green, Luton. The properties were sold to Columbia Threadneedle for 19,990,000, reflecting a 7.50% NIY / 216 capital value per sq ft.
The property comprises 3 headquarter offices totalling 92,351 sq ft. They are multi-let to 6 tenants for a term of 6.3 years to expiry and 4.75 years to break. Produces a rental income of 1,600,295 per annum, reflecting 17.33 per sq ft.
Location: 400, 450 & 475 Capability Green, Luton
Property Type: Office
Transaction Type: Disposal
Client: I.M. Properties