News: CBRE completes £9.5m Rotherham acquisition

Acting on behalf of an in house fund of Invista Real Estate, the Capital Markets team at CB Richard Ellis in Leeds has acquired the 67,000 sq ft Cyan House building in Rotherham for £9.5m, reflecting a net initial yield of 8.5%.

Cyan House, which is situated in the Dearne Valley is occupied by the Royal Bank of Scotland who have approximately 11 years remaining on their lease.

Associate Director of Capital Markets at CB Richard Ellis in Leeds, Robin Bullas, said: "The investment acquisition of Cyan House represented an excellent opportunity for the client to acquire a signature building with good quality long-term income from a very strong tenant, RBS.

"The significant transaction demonstrates a continued return in confidence in the 2010 Yorkshire investment market."

The RBS group moved their Lombard business across Rotherham to the state-of-the-art building at Adwick Park in 2007, relocating around 600 staff.

Last month RBS announced 3,500 job losses in the UK with the closure or withdrawal from 12 UK centres with a further three centres under review. They announced that the centre in Rotherham is set to be retained.

CBRE website

Images: brchamber.co.uk