Royal Mail Group office investment sold on Nottingham business park

FHP Property Consultants have concluded the sale of Davy House on Phoenix Business Park in Nottingham leased by Storefeeder, a company wholly owned by the Royal Mail Group.

The property was substantially refurbished prior to Storefeeder taking occupation in 2019 and the investment has subsequently been sold.

The property was lease at passing rent of £91,140 per annum and has been purchased by the Trustees of the Sir Robert Douglas’ Will Trust at a price reflecting a net initial yield of 6.9%.

Fisher German LLP acted on behalf of the purchasers.