CLS Holdings Plc exchanged unconditional contracts to buy an office property in Uxbridge, west London, for £51 million.
The 129,060-square-foot, nine-story Harman House asset, located at 1 George St., is 98% occupied and delivers an annual rental income of roughly £3.5 million.
The deal reflects a net initial yield of 6.9%.
The property, which was refurbished in 2014, is leased to 10 tenants with a weighted average unexpired lease term of 7.9 years.
CLS will finance the acquisition with existing cash resources.
According to Property Week, the property was sold by PGIM Real Estate.
