Fujitsu buildings sold to Schroders

Fund manager Schroders has bought all three Fujitsu office buildings at Central Park in east Manchester from Matrix for £37.92m.

The sale of the 163,000 sq ft of offices represents a net initial yield of 6.75%.

The buildings were acquired through the Schroder Exempt Property Unit Trust. The vendor was the Matrix General Portfolio Ltd Partnership.

Fujitsu has 15 years to run on its lease and currently pays around £2.7m/year rent. Tudor Toone advised Schroders. CBRE represented Matrix.

Central Park was developed by a joint venture between Ask Developments and Goodman.