December 20, 2010
Chessmar Ltd (a subsidiary of Rugby Estates PLC), advised by DE&J Levy, has sold The Oval at 29-32, Bethnal Green Road, London, to Starprop Limited for £1.25 million. The deal represented a net initial yield of 6.2%.
The two-storey light industrial building with a total area of 16,478 sq ft has an existing tenant, AJ Cope & Sons Limited, paying a rent of £82,000 pa.
Jeremy Grundy, partner at DE&J Levy, said: “The price achieved reflects the competition for this type of investment within the London boroughs.”
DE&J Levy represented Chessmar Ltd. Anton Page represented Starprop Limited.