UNIT 5 ST JAMES BUSINESS PARK, GRIMBALD CRAG ROAD, KNARESBOROUGH, NORTH YORKSHIRE, HG5 8QB

Investment News

Acting on behalf of retained clients, Fisher Hargreaves Proctor are pleased to announce the completion of the second office investment which they acquired for this company during the current year.

Terms were agreed relatively quickly for the purchase of the freehold interest in a modern, self-contained office building forming part of St James Business Park. The development is part of a larger commercial mixed used development developed over the last 5 years. St James Business Park consists of 7 self-contained office buildings, 3 of which were constructed as semi-detached buildings erected by Business Homes Ltd.

The property consists of a pavilion style office building totalling some 6,100 ft² together with parking for 22 vehicles. The property was let to Technology Sciences (Europe) Ltd on a new 10 year full repairing and insuring lease from June 2010 at a rent of £92,500 per annum with a tenants break clause at the end of the fifth year. The price agreed was £895,000.

Noel Roper, who acted on behalf of the purchasers throughout, commented:-

“We were pleased to be able to secure this well-let modern office accommodation on behalf of their clients which compliments their existing portfolio of a number of other commercial properties located throughout the United Kingdom.”

Andrew Summersgill of King Sturge’s Leeds office acted on behalf of the vendors Business Homes (St James Park) North East.>

END

Noel Roper

Date: 25 November 2010

Tel: 0115 841 1132

Email: noel@fhp.co.uk