18th Mar 2014 11:11
LONDON (Alliance News) - Real estate investment trust McKay Securities PLC Tuesday said it has acquired the freehold of Ashcombe House in Leatherhead, Surrey from an unnamed private investor for GBP4.4 million, representing an initial yield of 7.4%.
Ashcombe House is an office property comprising a ground floor and two upper floors totalling 17,340 square feet.
McKay which specialises in South East and London office and industrial property said the building is fully let to four tenants, with an annual rent of GBP340,415 or GBP19.63 per square feet.
The weighted average unexpired lease term is 8.8 years.
The stock was trading at 208.44 pence Tuesday morning, down 1.56 pence or 0.7%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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