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