Goldman Sachs snaps up Croxley Park for £400m

Goldman Sachs has acquired Croxley Park in Watford from Columbia Threadneedle for around £400m. The deal reflects a circa 2.5% yield. It also includes a 40-year lease to Watford Borough Council, which is renting the property for £9.2m a year. The council first got approval to lease the 725,000 sq ft business park from Columbia Threadneedle in January. It has the opportunity to buy the freehold of the business park for a nominal £10 at the end of the 40-year period. The leasing deal completed in July.  Columbia Threadneedle is also to pay £92m upfront to Watford Borough Council