Arla Foods, Grove Park, Leicester
Franck-Steier Price have recently concluded the sale of Arla Foods, Headquarters on Grove Park, Leicester on behalf of PRUPIM.
Grove Park is generally considered to be the premier office location in Leicester and the property is let to Arla Foods on assignment from Express Dairy Corporation.
The property is let on a 15 year lease with effect from 29th September 1999 at a passing rent of £267,250 per annum.
The purchaser was Jadefine Limited who paid a price of £3,440,000 reflecting a net intial yield of 7.35% assuming costs of 5.7625%.