Office investment sold in £2m deal

AN office investment in Leeds has been snapped up in a £2m deal.

Acting on behalf of Canada Life Investments, property consultancy Sanderson Weatherall has sold freehold office investment Hetton Court.

The 20,197 sq ft office building, which is located at The Oval, opposite the Penny Hill Shopping Centre in Hunslet, was sold to Augustus House, advised by Mark Brearley & Co.

Hetton Court is let to John Mowlem Construction, with Carillion Construction as guarantor on a 25-year lease at a rent of £285,175 a year, and the building is now occupied by healthcare waste specialists 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.”