Office valuations in Croydon and Dartford
The commercial valuation and investment consulting team provides valuation advice to Invista Real Estate Management on its new opportunity fund – The Clerical Medical UK Property Fund. Two recent additions to the fund include office buildings in Croydon and Dartford.
Mott MacDonald House, Croydon was acquired for £13.75m, reflecting a net initial yield of 9.5%. Following the purchase, Mott MacDonald signed a new 15-year lease at £19.25 per sq ft, which led to a 13.4% rise in the property’s value.
Lakeview East on Crossways Business Park in Dartford was acquired from Frogmore for £4m, reflecting a net initial yield of 7.9%. The newly constructed building is let to Kuehne & Nagel on a 10-year lease with a break option in 2014.
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