Highcross, on behalf of its subsidiary company, Bizspace, advised by Strutt & Parker, has purchased the freehold interest of The Mallings, 112 Malling Street, Lewes, East Sussex, from Topcentre Group, for £1.39 million, reflecting a net initial yield of 6.8%.

The property comprises a 25 suite business centre (totalling 5,776 sq ft) and five self contained offices (totalling 4,765 sq ft). The investment currently generates a rental income of £100,208 per annum.

In 2006, Strutt & Parker advised Highcross on the 100% share acquisition of Bizspace, the UK’s leading providers of managed workspace who own nearly approximately 5.3 million sq ft in 80 business centres across the country. The Mallings is an addition to this expanding portfolio.

Oakley Commercial advised Topcentre Group, who disposed of the Lewes centre, allowing them to focus their business centre portfolio within the A23/M23 corridor.

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