Equity Estates has sold a multi-let office investment at 22-28 The Havens, Ransomes Europark in Ipswich for £1.05m, reflecting a net initial yield of 9.42%. 22-28 The Havens, which comprises 7,026 sq ft, has been acquired by a private Suffolk based investor.

The two storey office terrace comprises four units which were developed in 2005, and are let to RBS and Allport producing an income of £104,665 per annum.

Phil Dennis, partner in Strutt & Parker’s Cambridge office, who acted on behalf of Equity Estates said: “The sale represents the strong demand that currently exists for commercial property investments as investors look for greater returns than are being offered by the high street banks.”

Strutt & Parker acted on behalf of Equity Estates; Elsom Spettigue Associates represented the purchaser.