Royal London, advised by Strutt & Parker and Knight Frank, has sold the freehold interest in Kett House, Cambridge, to IM Properties plc for £9.75 million, reflecting a net initial yield of 8.4%.

The property, which was rebuilt in 2001, consists of 35,697 sq ft of prime office accommodation arranged over ground and four upper floors, located on the key junction of Station Road and Hills Road. The property is let in its entirety to international law firm Eversheds Properties Limited, on a lease expiring in October 2019 and generates a rental income of £867,000 per annum.

CBRE advised IM Properties plc.

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