Sale and Leaseback of Unit 7, Dunston Technology Park, Chesterfield

Investment News

Acting on behalf of retained client Imagesound Plc, Noel Roper, Managing Partner at Fisher Hargreaves Proctor has concluded the sale and leaseback of Unit 7 Dunston Technology Park, Dunston Road, Chesterfield.

The property is situated on the highly successful Dunston Technology Park, which lies to the north west of Chesterfield, where a number of buildings have been developed in recent years.  The property comprises of a  modern, purpose built office building erected in 2002, providing some 8,800ft² of high quality air conditioned office accommodation with car parking for 39 cars. 

The property was to be let for a term of 10 years with a 5 year review, at a rent of £114,500 per annum, equating to £13 per square foot.  The sale price achieved of £1.6million, showed an initial yield of some 6.77% after normal costs. 

Noel Roper of FHP commented, “We were delighted to have the opportunity to act on behalf of Imagesound to affect this sale and leaseback transaction.  The property was offered to a limited market and a number of offers were received within a relatively short period of time.”

The purchasers, who represented themselves, were a Manchester based consortium.