January 25, 2017
CCLA Investment Management Limited, acting on behalf of The Local Authorities’ Property Fund, has acquired Globe House on Warwick Technology Park, Warwick from clients of CBRE Global Investors for £7.75m reflecting a net initial yield of 7.50%.
The 41,089 sq ft property, which is let to IBM for a further four years term certain, complements CCLA’s adjoining ownership, Iceni. Warwick Technology Park is one of the premier business parks in the area and with Globe House being let off £14.89 per sq ft there is good potential for future growth.
CBRE Global Investors was represented by Griffiths Eccles and CCLA was represented by HSM and Bromwich Hardy.