StockMarketWire.com - Property investor McKay Securities said it had acquired Evergreen Studios, a refurbished office asset in central Richmond, London for £14.8 million.

The company said the sum represented a net initial yield of 5.8%.

The asset was sourced off-market from Sheen Lane Developments, which had taken a two-year leaseback of the property.

Totalling 17,325 square feet, Evergreen Studios offered open-plan office space spread across five floors.


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