Location | Middlesborough |
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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 |