FHP Property Consultants have sold a self-contained office building on Pride Park, Derby, which it says shows “there is still great demand to purchase good quality well let buildings.”
1 Pride Point Drive is let to two tenants occupying a total space of 557m2 (5,995ft2). The building produces an income of £75,750 per annum and has been sold to private investment clients for £855,000, reflecting a net initial yield of approximately 8.42% net of costs.
Darran Severn of FHP Property Consultants said: “The office market has been particularly active in recent months and this is one of several office buildings we have sold on Pride Park.
“There is good demand to purchase both vacant and occupied buildings. As availability decreases I see capital values beginning to rise.”
