Shepherd Developments
The development of all forms of
commercial property
Head Office:
Huntington House
Jockey Lane
York
YO32 9XW
Email: Shepherd Developments
Tel: 01904 650800
Fax: 01904 650801
News
Date
21/01/2008
Shepherd Sells Completed Glasgow Call Centre Development
Shepherd Developments has sold the pre-let and now completed Caledonia House call centre scheme at Cardonald Park, Glasgow to Manchester Pension Fund for a price in the region of £8.5 million, reflecting a net initial yield of 7.25%.
The building is located adjacent to Junction 25 of the M8 Motorway and is let to Lunn Poly, part of the Thomson Travel Group, who took a 15 year lease, at a rent of £651,477 per annum. The building is of 66,016 square feet net, with a headline rental of £11.95 per sq ft. The rent is geared to 82% of rack rent. The building has the added benefit of around 325 car parking spaces.
Shepherd Developments' Leeds Office (Tel: 0113 242 2751) pre-let the building to Lunn Poly and constructed the scheme in 37 weeks, including tenant's fitting out. Integrated design and construction from within the Shepherd Group were employed. Strutt & Parker (Tel: 020 7318 5008) acted for the purchaser.
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