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Development Securities buys serviced office in Croydon
Published: 2010-06-30 09:29:05
Development Securities has acquired an office property, Airport House, in Croydon, for £7.75m reflecting an income yield of 5.4%.
(Sourced from investegate.)
The property - acquired from LPA Receivers appointed on behalf of the Bank of Ireland - comprises a well-located serviced office building.
DS has appointed a local serviced office operator to run the centre with the aim of re-establishing the building in line with its historic operating performance which would see the income yield rise to over 11%.
It said the iconic building will be refurbished comprehensively internally and externally.
To read the full story click here.