Rockspring Property Investment Managers LLP announces that, on behalf of the Rockspring Hanover Property Unit Trust, it has agreed the sale of The Stanza Building, a brand new office headquarters in Uxbridge, to NFU Mutual Insurance Society for £43.1m, reflecting an initial yield of 5.72%. The sale follows the letting of the entire building to Nexen Petroleum UK in July, on a 12 year lease at £32 per sq ft.
Hanover acquired the scheme in November 2011 as a speculative development in partnership with Bell Hammer and it was completed in November 2012. The building is located adjacent to the Grand Union Canal in Uxbridge with waterfront views and provides 80,745 sq ft of Grade A office space and 91 car parking spaces. With a BREEAM rating of ‘very good’ and an Energy Performance Certificate of ‘B’, the building incorporates numerous sustainable features including solar panels, rainwater harvesting and an energy saving lighting design.
Hanover is a pro-actively managed, UK focused, open-ended fund that has been delivering income and capital growth to professional investors for 45 years.
