LaSalle Investment Management (“LaSalle”) today announces that it has completed the sale of Hyde Park Hayes business park to Melford Special Situations LP, at a net price of £30.1 million, reflecting a Net Initial Yield of circa 8.2 per cent.

The ten acre, mixed use business park is strategically located near the M4 and M25, three and half miles north of Heathrow and at the heart of west London’s developing transport infrastructure. It was recently refurbished to a high standard and has attracted a number of new tenants.

Gary Player, Head of Business Space at LaSalle said: “Our successes at Hyde Park Hayes provide a further illustration of the strength of the market. The letting of 100,000 square feet to Rackspace in August 2010 was followed up with lettings to China Airlines Limited, WNS Global Services (UK) Limited and Winterflood Securities – taking the occupancy level from 25 per cent to 78 per cent in less than a year.”

We brought the property to market in March 2011 and attracted strong interest from a wide range of institutional and value-add funds, showing there remains significant demand for the right type of office properties within the South East.”

Jones Lang LaSalle acted on behalf LaSalle.