Helix Property Advisors Limited, advised by Fineman Ross, has sold its freehold interest in the Rexam Beverage Can UK headquarters at 100 Capability Green, Luton, Bedfordshire for £8.25 million, reflecting a net initial yield of 8.93%.
The modern, two-story office building comprises 47,336 sq ft (4,398 sq m) on a 3.05 acre (1.23 hectare) site, with 233 car parking spaces. Recently refurbished by the tenant to Grade A standard, the property is let on a 25-year lease with 11.5 years unexpired, at an annual rent of £780,000, equating to £16.57 per sq ft (£178.36 per sq m).
Capability Green is one of the UK’s premier business parks, located adjacent to Junction 10 of the M1 motorway. Other occupiers include Siemens, BAE Systems, Astra Zeneca, Ernst & Young and Barclays.
CBRE advised the purchaser, a private Israeli investor.
