October 7, 2014
Turnstone Estates has completed the sale of a 9,034 sq ft office building at Vision Park, Cambridge to RO Regional Properties, part of the RO Group.
Discovery House, which is occupied in its entirety by the Internet Watch Foundation (IWF), has been purchased by RO Properties for £2.85 million, reflecting a net initial yield of 6.75%.
The IWF, a charity and self-regulatory body for the online industry, agreed a ten-year lease on Discovery House in May this year. The two-storey, self-contained office building is located at Vision Park, Histon, three miles north of Cambridge city centre and just off Junction 32 of the A14.
Turnstone Estates director, Tim Deacon, comments: “The successful sale of Discovery House has followed hard on the heels of its letting to the IWF and reflects the quality of its office space and location on an attractive, well-established business park.”
Januarys, Finn & Co and Hewitsons acted for Turnstone Estates. RO Properties was advised by HSM Chartered Surveyors.