International Investment Gate are delighted to announce the acquisition of Dearne House, Cortonwood Business Park, Rotherham for £5.5m, reflecting a net initial yield of 10% for our client including the leverage provided by The Bank of London and Middle East. Dearne House comprises 51,671 sq. ft. of modern office accommodation.
The property is securely let to The Royal Mail Group Limited for a further 7 years with fixed uplifts. Dearne House comprises 51,671 sq. ft. of modern office accommodation.
The property will benefit from being located directly opposite A1 Cortonwood shopping park. This 7 acre site will include tenants such as M & S, River Island, New Look, and H&M. Other neighboring occupiers include Morrisons, Asda Living, BBQ, TK Maxx, Boots, Next, Argos, and Matalan.