Acting on behalf of private clients, Legat Owen and joint agent ADS have sold Eden House, a 21,750 sq ft office building on Chester Business Park to SHS Estates, for a sum exceeding the £4.25m guide price.
The building is fully occupied by Sinclair Pharmaceuticals, Target Group and Succession Financial Management. The net initial yield for a sale at the guide price was 7.35%.
Will Sadler, director at Legat Owen, said: “The property was brought to the market in September and we are pleased to have secured a sale within four months.
“There was significant interest from a wide range of local, regional and national buyers, attracted by the tenant profile, 100% occupancy and the prospect to add value with a number of asset management opportunities.”
SHS Estates was unrepresented. Based in Holmes Chapel, the company is a trading division of JSSH, which was formed following the partition of the Seddon group in 2013.
Key occupiers on Chester Business Park include M&S Money, Bank of America, MBNA, The Funding Corporation, Regus, Tetrapak and GB Group.