This is how much St Leonards office building sold for at auction
and live on Freeview channel 276
VIP House on Venture Industrial Park in Menzies Road was sold for its guide price of £750,000.
The 34,444 sq ft premises, over five storeys, comprises offices, workshops and studio spaces and is currently let at £100,488.78 per annum.
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Hide AdSam Kinloch, director and senior auctioneer valuer at Clive Emson Auctioneers, said: “Based on the purchase price, and rental income, the gross rental yield for the property is a high-yielding 13.40 per cent. There was keen interest in the building.
“Property continues to prove attractive for investors because of long-term capital gains, rental income and as a hedge against the rising costs of living caused by inflation.”
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