UK private equity real estate investor Henley Investments has completed the acquisition of Blaise Pascal House from Dutch investor Wereldhave for £6.7m (€7.9m).
The purchase price reflects a net yield of 16.93%.
The modern, freehold headquarters office building is located at 100 Pavilion Drive, Northampton Business Park and comprises 10,000 m2 of office space. The asset is fully let and occupied by Intelligent Processing Solutions on an eight-year lease with a break clause in June 2016 and a parent company guarantee from Unisys.
Jeff Morton, chief investment officer at Henley, said: “Blaise Pascal House, with its sound property fundamentals and highly prominent location, represents an excellent addition to our existing commercial portfolio.
“This acquisition is indicative of our overall investment strategy in successfully sourcing exceptional value real estate. We remain committed to seeking out stable, income-producing deep value investments anywhere in the UK.”
