BAM Properties has sold its office investment St Peter’s Square, Wellington Road, Stockport to a South African investor for £12.39M. The sale reflects a net initial yield of 7%.
The landmark building provides 50,000 sq ft of Grade A office space. 95% is let to Sky, the leading home entertainment and communication company, until March 2025 with RPI linked rent reviews. The 2,697 sq ft ground floor retail unit is available but with strong letting interest. Developed by BAM this striking glass building has a BREEAM ‘Excellent’ rating.