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SHEFFIELD OFFICE INVESTMENTS SOLD

Two office investments on St Modwen¹s Shepcote Office Village, Sheffield, have been sold for £1 million, representing an initial yield of 7.5 %.

Both 2,760 sq ft units have been sold to Oughtred & Harrison Ltd. One unit is let to Safestyle UK, one of the country¹s leading window and double glazing manufacturers, and the other to Fumex Ltd, leading specialists in the provision of smoke, dust and fume extraction equipment.

Richard Bannister of St Modwen, said “This successful sale demonstrates that a high quality product in a good location will always have a fair value even in unsettled times. With just three units now left available, we are anticipating full occupation of the Office Village in 2008.²

Lambert Smith Hampton acted for St Modwen. Oughtred & Harrison was represented by Dove Haigh Phillips.

For further information contact Richard Bannister of St Modwen (0113 272 7070. Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).

Ref: MOD/78/08