Strutt & Parker has advised Topland Group on the sale of Lakeside House, a grade A headquarter office building situated within Northampton’s premier office park, The Lakes.

Lakeside House was acquired by Valad Europe for £20.85m, reflecting a net initial yield of 8.73% and a reversionary yield of 9.40%.

The building totals approximately 101,223 sq ft and is let to National Grid Plc for a further 13.5 years, subject to a tenant only break option in July 2022 (8.5 years term certain). The property benefits from fixed uplifts of 2.50% per annum.

For more information, contact Sam Gibson.