Hermes Property Asset Management - Offices Sale - Windsor, Chapel House

Date: 04 Jan 2002

The Crown Estate has purchased a prominent office building - Chapel House in Windsor from Hermes Property Asset Management, for £8.2 million, reflecting an initial yield of 6.85%. The property adjoins the purchaser's existing holding, Imperial House.

Chapel House extends to some 19,936 sq ft , and is let to Rank Hovis Ltd, with a guarantee from Rank Hovis McDougall Plc until November 2015. Rental is at £29.00 per sq ft, subject to five yearly upwards only rent reviews.

Knight Frank acted for The Crown Estate and King Sturge acted for Hermes.

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