Commercial Property News

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Tuesday, January 23, 2024

Halifax Managed Income Fund acquires Newcastle office property

Halifax Managed Income Fund, advised by Savills, has acquired Tyneside House at Skinnerburn Road, Newcastle Business Park from Skinnerburn Properties for £6.27m, reflecting a net initial yield of 5.27%.

The property is let to National Rivers Authority on two leases, each of 25 years from June 1995, at a passing rent of £350,000 pa.

Skinnerburn Properties was represented by Cushman & Wakefield.


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