Sten Mortstedt’s CLS Holdings has sold a Heathrow office building for £12.8m, a 5% discount to its June valuation.
The sale of the 102,345 sq ft Vista Centre, which also includes a restaurant, gymnasium and swimming pool, to Vista Property Investments represents an initial yield of 7.4%.
CLS bought the building in 1995 for £10.8m when the entire building was let to Hoechst.
In 1999 the tenant paid £8m to be released from its lease and the building was refurbished and the leisure facilities added.
Tenants now include the Metropolitan Police, Airline Business and a business centre.
MBH and Vail Williams acted on behalf of CLS and Smith Melzack Pepper Angliss acted for the purchaser.