Orbit buys in Birchwood

Knight Frank has completed the sale by a UK institutional client of two office buildings at The Beacons to PE Jones Properties and Orbit for £3.1m.

The buildings total 23,000 sq ft and are occupied by Bellway Homes and communications products supplier Anixter with a combined rental income of £318,600 a year. The Beacons was developed by Taylor Woodrow ten years ago.

Steve Carrick, investment partner, Knight Frank, said: "We received a significant amount of interest from investors, due to the quality of the buildings and covenants. Whilst some investment sales are currently failing to sell, if priced correctly, then transactions are being completed."

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