Investment Sale Of Hawk House
Hawk House is a grade ‘A’ office building of 8,248 sq.ft located at Central Park, Telford. Central Park is a recognised and established office and commercial area with occupiers including Telewest and CAP Gemini. Bulleys were instructed to dispose of the long leasehold interest with the benefit of a ten year lease to the First Secretary of State at an annual rent of £91,000 per annum. We were seeking offers in the region of £1,250,000 which reflected a net initial yield of 6.88% and an equivalent yield of 7.28% allowing for purchasers costs of 5.75%. Following a successful local and national marketing campaign, a number of offers were received and the commercial property was sold for a figure in excess of the asking price.