StockMarketWire.com - Property investor McKay Securities said it had acquired the Rivergate multi-let office building fronting Newbury Business Park in Berkshire for £15.5m.

The purchase price reflected a net initial yield of 7.5% prior to adjustment for the value of letting incentives.

The asset provided 61,385 square feet of lettable space over three floors and car parking totaling 323 spaces.

It was fully let to six occupiers including Capita Business Services, Cavendish Nuclear and Coffin Mew.




Story provided by StockMarketWire.com