Delta Properties sell Amadeus building, Heathrow for over £15m
Global real estate advisor CBRE has advised Delta Properties on the £15.6m sale of the Amadeus building to a Charitable Foundation representing a net initial yield of 4.08%.
The asset comprises a three-storey office building with car parking for 119 vehicles over 31,695 sq ft and is strategically located at Heathrow, Europe’s busiest airport, enabling excellent access to London and further afield.
The building presents a highly secure office investment opportunity providing 16 years’ rental income let to the First Secretary of State, with the tenant recently agreeing to a 15-year reversionary lease effective from 2021, expiring 2036.
Ronen Saban, CEO, Delta Properties said “Following a successful lease re-gear with the Home-Office, we were pleased to realise that the market still has a strong demand for good quality assets.”
We received a high level of interest in this asset which resulted in a competitive price being achieved for Delta Properties. This transaction highlights the significant depth of demand for secure income opportunities in the current market.