Helix Property Advisors, on behalf of a private client has sold the freehold interest in The Octagon, 27 Middleborough, Colchester, Essex to ASE – a fund managed by Commercial Estates Group – for £9,025,000 million, reflecting a net initial yield of 11.6%.
The property comprises a purpose built 1980s office building totalling 98,795 sq ft (9,178 sq m). The four-storey building is multi-let to eight tenants, providing an annual rental income of £1,109,707.
Whitmarsh Holt Young advised Helix Property Advisors and Savills advised the purchaser.
