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St Modwen sells Stoke call centre development

Stoke-on-Trent Regeneration, the joint venture vehicle formed by St Modwen Properties PLC and Stoke City Council, has sold the 3,414 sq m (36,750 sq ft) Auto Direct customer call centre building on the 400-acre Trentham Lakes mixed-use development, Stoke-on-Trent, to a private investor for £1.95 million.

Auto Direct , the motor insurance broker division of HSBC Select, this month moves into the new building where the firm will employ up to 400 people.

The investment sale price represented an initial yield of 8.44%.

Insignia Richard Ellis acted for St Modwen.

For further information contact Simon Rutter of St Modwen on 01782-281844. Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).