Hill Samuel Asset Management - Retail - Hertfordshire, Letchworth, Letchworth Business Park, Du Pont Merck House

Date: 28 Apr 1998

The leasehold in Du Pont Merck House, Letchworth Business Park, Letchworth Hertfordshire, has been acquired by TSB Group Pension Trust for a figure of £2.1 million. The Trust is managed by Hill Samuel Asset Management and was represented in the acquisition by Singer Vielle. The Vendor, a private oversea's investor, was represented by John Peiser Wainwright.

The entire property is let to The Country Gentlemen's Association, on a lease assigned to Du Pont Pharmaceuticals Ltd at a rent of £174,200 per annum.

The office property was constructed in 1989 and has a net internal area of 1,718 sq m (18,501 sq ft), arranged on ground and one upper floor.

The property is prominently located at the entrance to Letchworth Business & Retail Park. The Park comprises some 60 acres and has attracted occupiers such as J Sainsbury plc, Eastern Electricity plc, BOC Ltd, Unichem plc and Tesco plc.

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