OBI Wetherby House

OBI sells Wetherby House to private investor for £799,500

David McCourt

The property company sold the 6,040 sq ft building in Trafford Park on behalf of Wilton Developments.

Wetherby House, Cobra Park, is wholly let to MAC Clinical Research with two and a half years' to a tenant break option.

The annual rent is £90,000, reflecting a rent of £14.90 per sq ft. The sale price of the property reflects a net initial yield of 10.6%.

Gary Scorah, investment partner at OBI Property, said: "The sale is an example of the increased level of private investors who are now back in the market to acquire properties with strong property fundamentals at attractive returns.

"Within the past 12 months, there have been a number of disposals within Cobra Park, demonstrating the popularity of the estate."

The buyer was not represented.

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