Deal agreed for office buildings

TWO office buildings in Sheffield used by advanced surveillance business Synectics have been sold for more than £1.5m.

Ben Hall, director of investment at commercial property consultant GVA in Leeds, was appointed to secure a buyer for the two interconnecting, semi-detached office buildings at Broadfields Business Park.

The deal with a private investor represents a yield of 10.13%.

The two buildings span two floors, providing a total floorspace of 10,519 sq ft including storage and 38 car parking spaces.

The properties are let on a long-term basis to Synectics, part of Quadnetics. The tenancy is unaffected by the sale of the premises.

Mr Hall said: “This deal is great news as it demonstrates that there are investors who are prepared and have the confidence to invest in property that is right for them. The prospective investors could see that the business park has always lets well and this was the key factor in securing the interest, which lead to the deal taking place.

“In this case, Broadfields provides attractive modern well specified office accommodation which is well located with amenities for staff within walking distance. The tenant has grown into the building and may need more space within the vicinity going forward.

“It is encouraging that we are seeing interest in all parts of the Yorkshire region at present, which bodes well for positivity in the Yorkshire market place going forward.”