Leicester
The freehold interest in a Kobe House, located in Leicester city centre has been sold for in excess of £1.7m.
The multi-let 1960s block, located on Charles Street, opposite The Haymarket Shopping Centre, has been sold by Hartnell Taylor Cook LLP on behalf of a private property company to the Farcastle Group of Companies.
The investment, which generates an annual income of £113,485, comprises five ground floor lock up shops with offices on first and second floors, totalling 12,224 sq ft. Tenants include Age Concern, Heart of England Training Ltd and Frontline Recruitment Ltd.
The transaction reflects a net initial yield of 6.2%.

Banbury
Nurton Developments has sold Beaumont House, Banbury to Newton Asset Management for £3.1m, representing a yield of 7%.
The six storey, 22,560 sq ft building has undergone a £1m refurbishment programme and is fully let to local companies.
White Commercial and Colliers CRE were joint selling agents for Nurton and Rohleder Lumby represented the purchasers.

Droitwich
Daisy Properties LLP has sold the freehold interest in 25A Berry Hill Industrial Estate to a private investor for £575,000 reflecting a net initial yield of 4.3% and a minimum net reversionary yield in 2009 of 5%.

The property comprises a site extending to 0.65 acres used for vehicle storage and is currently let to Northgate Vehicle Hire Ltd for a term of 10 years from March 2004 at a current annual rental income of £26,000 rising to a minimum of £30,140 pa in March 2009.
Mark Atkins Associates acted for the vendor and the purchaser represented themselves.

Stoke-on-Trent
IM Properties, advised by Jones Lang LaSalle, has acquired the long leasehold interest of building four, Etruria Office Village from St Modwen for £3m.
The price reflects a net initial yield of 7.17%.
Building four comprises 17,500 sq ft of grade A office space.
The detached property is currently let to Staffordshire Police Authority and GSH Group plc for 15 and 10 years respectively.
St Modwen were represented by Colliers CRE.

Nottingham
Fisher Hargreaves Proctor have agreed the sale of Unit 6E1, East Midlands Distribution Centre on behalf of Wilson Bowden Developments.
The 16,500 sq ft unit was let for 10 years in December 2007 to GAC Logistics (UK) Ltd and has been sold at a price of £1.325m to private investors represented by Lambert Smith Hampton. The deal reflects a yield of some 6.63%.