M&G Acquires Meridien House Watford From IVG For £19 M
IVG, advised by Bray Fox Smith, has sold a prime South East office development in Watford to M&G Real Estate for £19 million, reflecting a net initial yield of 5.90%.
Meridien House is a 59,977 sq ft Grade A office building arranged over ground, six upper and two basement floors and is located at 69-71 Clarendon Road, Watford. The two basement levels provide 177 car parking spaces.
The building is fully let to 8 tenants including i2 Offices, Bathstore, Galderma and Elavon Financial Services with an average weighted unexpired lease term of 8 years. Clarendon Road is Watford’s prime office pitch linking Watford Junction rail, bus and tube stations to the town centre and the Intu Shopping Centre. Watford Junction rail station provides a direct rail link to London Euston in only 15 minutes.
