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Sale of Chelmsford office property

Pigeon is pleased to confirm the sale of Hodgson House, Chelmsford, to a private investor. Pigeon acquired the property in 2012 off a 13% initial yield. It was let to KPMG who were not in occupation but had sub-let to FTSE 250 company, Galliford Try. Following the purchase Pigeon surrendered the lease to KPMG and negotiated a new lease to Galliford Try. Having completed the asset management plan for the property it was decided to sell, book a profit and invest in new opportunities.

For more information contact:
Will van Cutsem – w.vancutsem@pigeon.co.uk