Competitive bidding has resulted in the sale of the above freehold property for £2.51 million reflecting an initial yield of approximately 5%.
Mellersh & Harding acted for the Trust vendor of this self-contained modern office building in the centre of St Albans.
Comprising 7,163 sq ft, the property was let to HSBC Bank PLC at a rent of £135,750 per annum exclusive reflecting £18.95 per sq ft. The lease ran to 2025 with a tenant’s only break in 2020.
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