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ACRE ‘right on Toon’!

By March 2020 Transactions

ACRE Capital Real Estate have advised Moorfield Group and Highbridge Properties on the disposal of C23, Cobalt Business Park, Newcastle, to LCN Capital Partners for a price of £25,200,000 reflecting a net initial yield of 6.87%.

C23 comprises of a modern, Grade-A head-quarters office building of 125,912 sq ft, which is let to The Sage Group PLC on an FRI lease for a term of 15-years (with a break in year 10) at a rent of £1,762,768 pa.

Location:  Newcastle
Property Type: Office
Transaction Type: Disposal
Client: Moorfield Group and Highbridge Properties