CBGA have fought off strong competition to acquire Metro Point in Croydon from New Star Asset Management, on behalf of private Israeli clients.

Metro Point is a freehold office building constructed in 2002, comprising 40,500 sq ft of Grade A accommodation. The tenant is the Secretary of State for Transport at a rental of £920,000 per annum on a lease which expires in March 2020.

The price paid was £12,000,000 which reflects a net initial yield of 7.25%.

Richard Starr commented “the client is particularly pleased to have secured a quality asset at a very attractive yield and has substantial funds for similar opportunities”.


Should you require any additional information, please contact:
Richard Starr
CBGA
34 Dover Street
London
W1S 4NG

Tel: 020 7495 6838
Fax: 020 7495 3056
e–mail: rstarr@cbga.co.uk
Website: www.cbga.co.uk

CBGA are one of the leading niche firms of investment surveyors based in Central London specialising in the sales and acquisitions of commercial investment properties.
The website is designed to provide an insight into the activities of the company, together with providing information on recent transactions and current sales.