GVA Completes Seven-figure Sale of Sheffield Office Buildings
Monday, 18 February 2013
GVA, the UK’s largest independent commercial property consultant, has secured the sale of two Sheffield office buildings in a deal worth more than £1.5million.
Ben Hall, director of Investment at GVA Leeds, was appointed to secure a buyer for two interconnecting, semi-detached office buildings at Broadfields Business Park. A deal has now been struck with a private investor and the purchase represents a yield of 10.13%.
The two high-spec office buildings at 3-4 Broadfields Close were built in 2006 and span two floors, providing a total floorspace of 10,519 sq ft including storage and 38 car parking spaces. The properties are let on a long-term basis to Synectic Systems Group Limited, a global supplier of advanced surveillance solutions. The tenancy commenced in 2007 and remains unaffected by the sale of the premises.
Located one mile south of Sheffield city centre; Broadfields Business Park is an established commercial location which benefits from direct access to the M1 and M18 motorways. The site is also home to several other firms, including Grant Thornton, Virgin Active, ECS Insurance Brokers, UHY Wingfield Slater, RH Group and the St Johns Ambulance Service.
Ben Hallsaid: “This deal is great news as it demonstrates that there are investors who are prepared and have the confidence to invest in property that is right for them. The prospective investors could see that the business park has always lets well and this was the key factor in securing the interest, which lead to the deal taking place.
“In this case, Broadfields provides attractive modern well specified office accommodation which is well located with amenities for staff within walking distance. The tenant has grown into the building and may need more space within the vicinity going forward.
“It is encouraging that we are seeing interest in all parts of the Yorkshire region at present, which bodes well for positivity in the Yorkshire market place going forward.”
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GVA is the UK’s largest independent commercial property consultant. Headquartered in London and with 12 offices and 700 fee earners across the UK, GVA offers the country’s largest and most diverse multidisciplinary property consultancy outside of the capital. The company is 80% consultancy-based.
GVA generated a turnover of £117 million year ending 30 April 2012, up from £115 million on the previous year. For further information visit www.gva.co.uk
GVA is also the owner of GVA Worldwide, an international network of independent property advisors serving 25 countries, with nearly 5,000 real estate professionals throughout the US and Europe. For further detail visit www.gvaworldwide.com