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Toronto Square Office Bought for £29m by M&G

06 September 2013 | Updated 01 January 1970
 

Toronto Square, an 88,200sq.ft Grade A office development in central Leeds was developed in 2010 and is multi-let to 14 tenants. It has now been acquired for £29m by the M&G Property Portfolio from Highcross.

Justin Upton, Deputy Fund Manager of the M&G Property Portfolio, said: "There is always strong tenant demand for office developments such as this and with corporate occupiers becoming more demanding in their requirements, this acquisition provides the Fund with an attractive income yield of seven per cent and further opportunities to drive performance via the implementation of asset management initiatives."

The M&G Property Portfolio is managed by Fiona Rowley and Justin Upton of M&G Real Estate. Knight Frank represented M&G Real Estate, the real estate investment management arm of M&G Investments and Highcross was advised by CBRE.

Article written by ThisWeekinFM | Published 06 September 2013

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