11th November 2018

Cutlers Gate, Sheffield

Cutler’s Gate is a fully let 61,645 sq. ft. Grade A office building in the city centre which was developed in 2011. It is let to Capita Business Services Limited with a guarantee from Capital Plc.


The property was acquired by Ediston in October 2014, for £13.5m, reflecting a net initial yield of 7.34%.


  • Agreed with Capita to extend their lease from 11 years unexpired to give a 25 year term certain.
  • Agreed with Capita to incorporate annual index linked (RPI) rental increases.
  • Negotiated a guarantee from parent company Capita plc.
  • This secures a long term income stream against a 5A1 covenant.
  • Sold for £20.2 million, a 5.00% net initial yield, in June 2017.