Two Devon Way

MK2 sold Two Devon Way, at Longbridge Technology Park, Birmingham, on behalf of St Modwen.

The 29,479 sq ft office building was acquired by UKO Serviced Offices, a subsidiary of UK Land Limited, in a £3.75m deal.

Built in 2007, the property boasts exceptional green credentials – including an EPC ‘A’ rating – and is let to St Modwen Homes and Wardell Armstrong.

The purchase reflects a net initial yield of 10.06% and an anticipated reversionary yield of 15.74% once the remaining 10,000 sq ft of space is let.