Regional REIT has announced the sale of 58, 167 sq ft Clearblue Innovation Centre in Bedford, for £8.8 million.
The figure represents an 11.4 per cent premium over the June 30, 2025 book value.
A lease extension to September 2033 has already been agreed, ahead of £0.7m accretive asset management works concluding in October. Upon completion, the EPC rating will go from F to B, resulting in a value improvement of £2.3m.
The property is leased to SPD Development Company, which operates within the professional, scientific, and technical activities sector, at an annual rent of £860,000, delivering a net initial yield of 9.16 per cent.
Proceeds from the transaction will be used to reduce debt and strengthen the company’s balance sheet.
Stephen Inglis, chief executive of London & Scottish Property Investment Management, the building’s asset manager, said: “This disposal demonstrates the success of our active asset management strategy, delivering an 11.4 per cent premium over book value and enhancing the quality of our portfolio.
“The improvements made to the Clearblue Innovation Centre, including a lease extension and EPC upgrade, have significantly increased its value. The proceeds will further strengthen our balance sheet and position us to continue creating value through disciplined capital allocation and selective asset sales.”
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