Apr 30 2012
Metric has conditionally exchanged on its acquisition of the former Royal Mail building on Berkhamsted High Street for a total investment of £7.55 million (net of acquisition costs). The 0.9 acre site has been acquired from Royal Mail Group for £2.55 million and Metric will invest a further £5.0 million in a new retail redevelopment. Simultaneous with the transaction, Metric has pre-let the majority of the accommodation (c. 80%) to Marks & Spencer ("M&S") who has signed a new 20-year lease for its Simply Food format. The remaining accommodation will be marketed to high quality restaurant occupiers.
The full announcement can be found in the attached file.
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