Barker Storey Matthews has negotiated the sale of 2-6 Hartford Road in Huntingdon on behalf of Howard (Properties) Ltd.

The property comprises a 4,850 sq ft two-storey office building and is currently let to The Job Centre on a lease expiring in April 2018. The current rent is £48,500 per annum exclusive and the property sold at a figure of £660,000 – representing a net initial yield to the buyer of 6.9 per cent.

Alan Matthews of Barker Storey Matthews, who negotiated the sale, said: “It is unusual to see a yield of below seven per cent on a property with less than seven years remaining on the lease, however, the price paid reflects the strength of occupational tenant.”

Michael Summers, Howard Property Investments Director added: “We have owned the property for the past 25 years and the disposal falls in line with the current repositioning of our investments property portfolio.

“We are now working towards the further investment acquisitions, concentrating on the major commercial centres in the region, along with the redevelopment of some of our major assets.”