HBG sells on development at Perth's Broxden Business Park

The property, which is pre-let to the Scottish Ministers for a period of fifteen years, is currently under construction by HBG Construction Ltd, and is due for completion by the end of 2002. It will accommodate around 110 staff from the Scottish Executive Environment and Rural Affairs Department [SEERAD] and the Department of Environment Fisheries and Rural Affairs [DEFRA].

The purchaser, a Scotland-based property group which is expanding its portfolio of commercial property interests throughout Scotland and England, is paying £4.75 million for the property, a price which represents a net initial yield of 7.5 per cent.

For further information:

• Blueprint Media: Drew Johnston, telephone 0141 353 1515 or 07771 577903 or e-mail drewjohnston@blueprintmedia.co.uk;
• HBG Construction: Public Relations Department, Alan Smith, telephone 020 8338 2635 or e-mail asmith@hbgc.co.uk  or Lucie Culkin, telephone 020 8338 2710 or e-mail lculkin@hbgc.co.uk;
• Alan Murray, Director, Mackay Properties Limited, Kintail House, Beechwood Business Park, Inverness IV2 3BW, telephone 01463 732507;
• Chris Conner, Director, CGP Surveyors Ltd, Regent House 113 West Regent Street, Glasgow G2 2RU, telephone 0141 229 5390.