Posted 19 November, 2012 OBI NEWS
OBI Property has announced the sale of Wetherby House, Cobra Point, Trafford Park, Manchester on behalf of Wilton Developments to a private investor for £799,500.
The 6,040 sq ft building is wholly let to MAC Clinical Research Limited with 2.5 years to a tenant break option. The annual rent is £90,000 reflecting a rent of £14.90 per sq ft. The sale price of the property reflects a net initial yield of 10.6%.
Gary Scorah, Investment Partner at OBI Property said: “The sale of Wetherby House is an example of the increased level of private investors who are now back in the market to acquire properties with strong property fundamentals at attractive returns. Within the past 12 months, there have been a number of disposals within Cobra Park, demonstrating the popularity of the estate.”