Orient Centre, Watford Changes Hand

27/11/2006

Acting for a Guernsey-based company, Aitchison Raffety has acquired the Orient Centre, Watford from Tarras Park Properties Limited.

The centre, comprising a terrace of three office buildings, each with a floor area of about 10,050 sq ft (943 m ² ) for a net internal total of 30,450 sq ft (2,828 m ² ), together with a car park, occupies a site of approximately 1.3 acres (0.5 hectare) in the Greycaine Road industrial area of north Watford.

The attraction of the location is the abundance of on site parking and easy access to North Western Avenue which facilitates access to the M1 and M25 motorways.

The buildings are occupied by three tenants and the total rental income is in the region of £516,000 per annum.

It is believed that a price of £6.5 million has been paid for the freehold.

Aitchison Raffety has been retained to manage the investment.

For further information:

Jane Whigham, Aitchison Raffety
Tel: 01442 220800
Email: jane.whigham@argroup.co.uk