Northwood International Investors Limited has successfully acquired the freehold of Spectrum Point, 279 Farnborough Road, Farnborough from M&G Real Estate for £20,000,000 reflecting a net initial yield of 7.60% and a reversionary yield of 8.50%.
An office building of approximately 85,000 sq ft the property is let to Hogg Robinson (Travel) Ltd and Qualcomm (UK) Ltd on leases expiring in 2020 at a rent of £1,606,642 per annum. There is currently approximately 9,475 sq ft vacant and to let.
The investment represents Northwood International Investors Limited’s first acquisition since they bought Highcross in December 2014. They are currently seeking further opportunities to invest in the South East office market.
Northwood International Investors Limited was represented by Capita. M&G Real Estate was represented by Knight Frank.
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