Trinova and Oryx buy Hatfield Office Block

Trinova Real Estate and Oryx Real Estate Partners have acquired a 40,000 sq ft office building in Hertfordshire for around 10.2m, from M7 and Colony Capital.

Located in Hatfield Business Park just north of the M25 the building, known as Helios Court, covers 2.31 acres and provides close to £1m per annum in rent, with a WAULT of 3.52 years to breaks and more than eight years to expires.

Tenants include major international electrical equipment provider Schneider Electric, asset manager Falko, charity Crohns and Colitis, law firm Cleveland Scott York, aircraft inventory firm DASI and the US headquartered Emergency Care Research Institute.

The sale price reflects an 8.5% yield.

Winston Luk, partner at at Trinova Real Estate, said: “We are positive on the micro-location story as well as the asset quality and income profile, and look forward to successfully executing the business plan”

Johan Eriksson, partner at Oryx Real Estate Partners, added: “Since our recent inception, we have actively pursued high-quality office properties in and around the M25 on behalf of our investors.

“Helios Court is an excellent first transaction for this strategy, and we are looking forward to collaborating with Trinova on implementing the business plan”

Knight Frank and TTG represented M7.