Property consultant Eddisons has acquired the freehold interest of Hexagon House on St James Business Park in Knaresborough on behalf of a private investor client.
The 23,000 sq ft office building, which was on the market for at £4m, was bought by Eddisons on behalf of its client and is currently let as the headquarters of national insurance group Broker Network for a term of 15 years, with eight years unexpired. The annual rental income of £365,000 represents a net yield of around 8.6%.
Hexagon House has recently been refurbished, with flexible office accommodation over three floors which could be occupied in up to six separate office suites and 112 parking spaces.
Steven Jones, associate director and head of agency at Eddisons in Leeds, said:
We were really pleased to be able to secure Hexagon House for our client. Its yield, together with a great location, on a prime business park between Harrogate and Knaresborough, make this just the sort of property that remains highly sought after.
Matthews and Goodman, London acted on behalf of the vendors.