Avis House, Bracknell
Published 8th January 2013
Property-Modern HQ offices
Floor Area-61,000 sq ft
Purchase Price-c. £8.65m
Claymore Role-Acquisition & asset management
Claymore Group, acting on behalf of Gulf based private investors, has acquired a 61,000 sq ft office investment from Glanmore Property Fund for £8.65m.
The property, located on the edge of Bracknell town centre, is let to Avis (Europe) Holdings Ltd on a lease expiring in 2027 at an annual rental of £915,000 pa, reflecting a net initial yield of 10%.
Duncan O'Neill, Director at Claymore, said:"This deal is a continuation of Claymore’s successful acquisition programme for overseas clients. This particular property provides excellent security of income with the potential to add value through rental growth and yield compression."