CLS Holdings has exchanged contracts to buy an office in Harrow, north-west London, for £13.8m.
It has acquired One Six Six on College Road, which comprises 34,655 sq ft of space and is currently multi-let to eight tenants with a weighted average unexpired lease term (WAULT) of 4.8 years to breaks and 7.9 years to expiries.
The group has bought the property at a net initial yield of 7.1%, with completion expected in January 2020.
Fredrik Widlund, chief executive of CLS, said he believed that Harrow has significant opportunity for growth within Greater London from which we are well positioned to benefit. We continue to look for acquisition opportunities across our key markets that meet our investment criteria.”
CLI : CLS Holdings buys Harrow office for £13.8m