Threadneedle Investments has bought Hemel One in Hertfordshire.
The vendor was RO Real Estate, and the sale price was in the region of £18m. It reflects a net initial yield of about 7.75%
Hemel One is located on Boundary Way in Hemel Hempstead. Current Tenants include: Kcom, Ericsson and BP.
The office property offers 96,000 sq ft of grade A office accommodation over four floors. The building has been recently refurbished to a very high standard suitable for any potential office occupier.
Theadneedle was advised by Deloitte.
RO Real Estate was advised by Knight Frank.