Sheffield Hallam purchases office block

Office design news from Morgan Lovell

Published on 15-05-2009

Landmarq Asset Management has completed the sale of AEGON House in Lytham St Annes, Lancashire.

The deal saw the 103,682 sq ft office interior building sell for a reported £13.6 million and it has now been let on a 20-year lease to Guardian Assurance.

It is believed that annual rental income from the property could top £1 million.

Mark Rawstron, capital markets director at GVA Grimley - which advised Landmarq on the deal - told Crain's Manchester Business: "This is ideal stock for the current market, offering bond-like security of income, with guaranteed performance. Landmarq views this type of asset as excellent wealth preservation stock."

Elsewhere in the region, the newspaper recently reported that One First Street in Manchester has been awarded a BREEAM rating of Excellent.

Ask Developments - the owner of the office interior building - installed a number of sustainable design features at the development, including a green roof and walls and a water-cooled VRF air conditioning system.