Radford House, Radford Boulevard, Nottingham, NG7 5QG
Franck-Steier Price Ltd (FSP) have recently completed the sale of a single let office investment in Nottingham on behalf of Threadneedle.
The property comprises a former Natwest Business Centre office building of approximately 30,000 sqft with 80 on site car spaces to the rear. The property was located approximately a mile from the city centre opposite Caste Retail Park.
The property is occupied by Birmingham International College on a 5 year lease from December 2009. The rent is £120,000 per annum.
The property was purchased by a private investor for £827,000 which represented a net initial yield of 13.7%, assuming full costs of purchase of 5.8%.