Knight Frank’s South East Capital Markets team has sold the freehold interest of prime M25 office building Skanska HQ, Maple Cross, WD3 on behalf of TH Real Estate.
The building was sold to a private investor sourced through Knight Frank’s Middle East Capital Markets team for £33.5 Million (£355 psf) reflecting a net initial yield of 6.49%.
The building comprises 94,255 sq. ft of space and is currently fully let to multinational construction and development company Skanska as their UK Headquarters on a lease expiring April 2023 providing 7.4 years unexpired at a passing rent of £2,300,000 per annum (£24.60 psf).
Tim Smither, Partner at Knight Frank commented: “This transaction demonstrates the significant inward investment by Middle Eastern buyers looking to deploy capital into South East offices, attracted by globally recognised covenants and the relatively higher returns offered when compared to Central London.”
