FTSE250 commercial property investors snap up £20m offices
UK Commercial Property Trust (UKCPT), a FTSE250 commercial property investor, has bought a Sheffield city centre office for £20m.
The 61,638 sq ft Hartshead House on Cutlers Gate is let to Capita Business Services Limited, which is part of Capita plc, on a lease with 22 years to expiry with an annual rent of just over £1m a year.
UKCPT said that the current availability of Grade A office space in Sheffield is limited, with a projection of less than five months' supply in the market, making Hartshead House a desirable asset.
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