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McKay Securities : MCKS – acquisition

McKay Securities has bought Gainsborough House in Windsor, an 18,660 sq ft, 1980s office building with 19 car parking spaces. The office is let to Regus on a deal that ends in December 2016. the rent is £512,834 (£27.48 per sq ft). McKay Securities paid £6.85m for the property – equivalent to a yield of 7.1%. Come 2016, McKay hopes to either re-let the property to Regus or refurbish it and seek a higher rent.

After this deal, McKay Securities has invested £54m of the £87m it raised from investors in February.

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