Maybrook House sold for £5.75 million
27 March 2008
40,000 ft² multi-let office building in Newcastle city centre
King Sturge has advised Scottish Widows Investment Partnership, acting on behalf of the SWIP Property Trust, on the successful sale of Maybrook House, a 40,000 ft² multi-let office building in Newcastle city centre to local property company, City & Northern.
The property is multi-let to seven different tenants with an average unexpired lease term of approximately three years.
The sale price of £5,750,000 reflects an initial yield of 6.75%.
King Sturge acted for SWIP, whilst City & Northern was represented by DTZ.
