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| Rotch Property Group sells Stevenage properties Hertfordshire County Council has acquired two adjacent office buildings in Stevenage from Rotch Property Group for £43 million representing a net initial yield of 7.72%. Farnham House and Robertson House are located on Gunnels Wood Road, Stevenage SG1 2ST and are sublet to Hertfordshire County Council until 2018 by Aviva Central Services UK Limited. Hertfordshire County Council also holds reversionary leases on the properties which expire in 2021. The current passing rent totals £3, 511, 847 per annum equating to £22.83 per sq ft per annum. The high quality buildings total 153,820 sq ft and were built in 1992. Hertfordshire County Council recently completed a comprehensive refurbishment programme investing £19 million in upgrading the properties. write your comments about the article :: © 2009 Construction News :: home page |