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Deekay Buys PHS Group’s UK HQ In Caerphilly

Deekay Buys PHS Group’s UK HQ In Caerphilly

Specialist commercial property investor Deekay has acquired the 34,000 sq ft UK headquarters of workplace services group PHS in a £3.6m sale and lease-back.

PHS has taken a 25 year lease with fixed uplifts throughout the term on the property which is located at the Western Road Industrial Estate, Caerphilly. The purchase price of £3.6m reflects a net initial yield of 7.20%.
Blue Property Consultants and Gerald Eve represented Deekay. Birmingham-based investment surveyor Paul Hanley who advised said: “This is the third sale-and-leaseback Deekay has transacted with PHS. This deal reflects continued demand for well let properties, with strong covenants and fixed uplifts.”

Savills acted on behalf of PHS.

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