Canada Life sells Leeds offices
Canada Life Investments has sold freehold office investment Hetton Court, in Leeds, for over £2m to Augustus House.
The 20,197 sq ft office building, which is located at The Oval, opposite the Penny Hill Shopping Centre in Hunslet, is let to John Mowlem Construction Plc, with Carillion Construction Ltd as Guarantor on a 25 year lease at a rent of £285,175 pa and the building is now occupied by healthcare waste specialist SRCL.
Richard Dunn, head of office agency at Sanderson Weatherall in Leeds, said: “We are pleased to have completed the sale of this out of town office investment, which offers a number of asset management plays at an attractive price. The out of town market saw increasing take-up levels and rents earlier in 2016, and with the recent uncertainty caused by the Referendum, it’s encouraging to see transactions like Hetton Court concluding.”
Sanderson Weatherall advised Canada Life Investments; Mark Brearley & Co advised Augustus House.