Turnstone Estates has sold the freehold investment of Langford Arch, London Road, Sawston, Cambridge, to a subsidiary company of the Howard Group for £2.5million, reflecting a net initial yield of 7.46%.
The 19,000 sq ft property is a former mill building converted into offices and is virtually fully let generating a total income of £199,048 a year. The average unexpired lease term is approximately three years and occupiers include Excell Business Solutions, Brand Recruitment, Sareum, Woodford Medical and Hyline Security.
Carter Jonas advised Turnstone and Bidwells represented Howard Group.