Cushman & Wakefield Investors (CWI) has acquired Centrum House in Egham, on behalf of West Sussex Pension Fund. The 1,518-m[sup]2[/sup] property was sold by CBRE Investors for 拢5.935 mln (EUR 6.8 mln). Griffiths Eccles advised CBRE Investors.
Cushman & Wakefield Investors (CWI) has acquired Centrum House in Egham, on behalf of West Sussex Pension Fund. The 1,518-m2 property was sold by CBRE Investors for 拢5.935 mln (EUR 6.8 mln). Griffiths Eccles advised CBRE Investors.
The property, located in Egham town centre, is let to Research in Motion UK Limited on a 15-year lease, expiring 2016. This is the fourth acquisition for West Sussex Pension Fund over the last six months, which has seen a total of 拢26 mln invested and is part of a long-term strategy to increase their property exposure. The building will complement its existing balanced portfolio.
Peter Balfour, Head of UK Investment Management at CWI said, 'The occupational market in Egham and Staines is showing promising signs of recovery. This asset provides an attractive running yield of 8% and will strengthen our client鈥檚 existing portfolio. We are continuing to look at investment opportunities for West Sussex Pension Fund in the South-East/London area.'
