The Charities Property Fund, advised by Savills Fund Management, has acquired the freehold interest in Jubilee House, Mid Point Business Park, Leeds from Hamsard 2604 Ltd, a subsidiary of Yorkshire Water, for £3,092,500, reflecting a net initial yield of 7.7%.
The 1,696 sq m (18,260 sq ft) office building is occupied by Car Care Plan (Holdings) Ltd, a vehicle warranty administrator and insurer, until July 2017 at a rent of £251,000 pa, equating to £148.01 per sq m (£13.75 per sq ft).
Hamsard 2604 Ltd were advised by Dixon & Company.