BROMWICH HARDY ACT JOINTLY WITH HSM TO ADVISE CCLA IN ACQUISITION OF WARWICK OFFICES
CCLA Investment Management Limited, acting on behalf of The Local Authorities’ Property Fund, has bought Globe House on Warwick Technology Park, Warwick from clients of CBRE Global Investors for £7.75m reflecting a net initial yield of 7.50%.
The 41,089 sq ft property, which is let to IBM for a further four years term certain, complements CCLA’s adjoining ownership, Iceni.
The passing rent at Globe House is £14.89 per sq ft.
CBRE Global Investors was represented by Griffiths Eccles and CCLA was represented by HSM and Bromwich Hardy.
Tom Bromwich comments
“This is a good example of prime office building still proving attractive as an investment in the Warwick District”.