Keills, advised by Strutt & Parker and Carrick Real Estate, has completed its first acquisition since starting up in November last year and has bought an office building in Watford for its principal client Keills Property Trust. The office property, situated at 50 Clarendon Road, Watford, has been purchased from clients of Invista, for £9.7 million, reflecting a net initial yield of 9%.

The headquarter office building comprises 59,759 sq ft and is let to TK Maxx for a further 10.5 years paying £928,985 per annum which equates to £15.55 per sq ft.

DTZ advised Invista.

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