Centre Square

Overview

Location

Middlesborough

Purchase price

£22.9m

Reasons for buying

Acquisition of a long leasehold on a development site and forward funding of two office buildings pre-let to Middlesbrough Council. 35 year FRI lease with the tenant retaining an option to re-acquire the interest at the end of the lease with annual rent reviews in line with RPI with 0-5% collar.

Timing

August 2018

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