Granby Industrial Estate, Weymouth, Dorset
The property comprised three interlinked office/industrial /research buildings constructed in the 1980’s. The building was let to a national defence contractor with only 2 years left to a break which we expected then to operate. As a result of the short unexpired lease term and the fact that we were buying a short leasehold interest with only 15 years remaining we acquired the investment at an initial yield of 27% per annum. We held the investment until the expiry of our leasehold interest at which point it reverted to the freeholder. Over the period of our ownership (15 years) we achieved a return on our investor capital of 104% pa.
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