UK Office Building Sold for $72 (Seventy Two) Million

W.P. Carey  a leading source of corporate sale leaseback financing publicize today that it has obtain an office facility of the Department of State for Communities and Local Government  for $72  (Seventy Two) Million

Situated in Manchester the land is lease to the DCLG on a (Fifteen) 15 year triple-net lease and is engaged by approximately (Two Thousand) 2,000 employees from the U.K.'s tax department Her Majesty's Revenue & Customs (HMRC) according to a company statement.

Manchester is the UK's (3) third largest city most lively office market outside of London.  The facility is situated or positioned in Salford west of the city center in a key redevelopment part. The ongoing redevelopment in the area is likely to boost the good looks of the place or spot and have a encouraging impact on the local real estate market.

W. P. Carey & Co Inc. is founded by Wm. Polk Carey in 1973 (Ninteen Seventy Three). W.P. Carey specializes in corporate sale leaseback financing, build-to-suit construction financing and the acquisition of single-tenant net-lease properties.

"The current staff consolidation into the facility show that this is an significant site for HMRC (Her Majesty's Revenue & Customs) and supports our established industry model of attaining key in service possessions let to single tenants on long term net leases," Jennifer Lucas, director of W. P. Carey said.

W. P. Carey owns and manages an investment portfolio totaling around $15.4 billion.

The Manchester location is west of the city center in a key redevelopment area. The company look forward to a boost in notice for the area due to ongoing redevelopment. 

For more information have a look on their website at http://www.wpcarey.com

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