LaSalle Investment Management has announced the sale of the Rolls-Royce Training & Development Centre in Derby to a private buyer. The property was sold for approx. €16.5 million (£12.1 mln), representing a net yield of 5.07%.
The property is a purpose-built training and development center let to Rolls Royce Plc, including offices, workshop/warehouse accommodation and an exhibition area, and benefiting from five-yearly fixed rental increases.
LaSalle Investment Management was advised by Singer Vielle. Allsop LLP acted on behalf of the purchaser. The purchaser is not being disclosed.