SHW sells Hove office investment for £5.025m

SHW, acting on behalf of a private individual investor, has sold the freehold investment in Spitfire House, at 141 Davigdor Road in Hove, to a property investment company £5,025,000, reflecting a net initial yield of 7%

Spitfire House is a modern, open plan, framed office building set in a prominent position on the corner of Holland and Davigdor Road. Arranged over three levels, with air cooling and raised floors, with an excellent basement parking provision, the 15,421 sq ft building is let to Panserve Ltd on a 15-year lease from November 2013, with a current passing rent of £372,432 per annum (£24.15 per sq ft).

Martin Clark, Partner at SHW says: “This sale shows that investors have long-term belief in the potential that the office market in Brighton & Hove offers.”