Thorpe Park office traded for £5.85m

Centrum 4600, the 21,500 sq ft UK headquarters of food group Dr Oetker, has been sold by Quasar Real Estate.

Manchester property consultancy Edwards brokered the purchase on behalf of a private investor. Dr Oetker signed a 15-year lease in 2022 at the four-storey building.

Newmark acted on behalf of vendor Quasar and the sale price reflects a net initial yield of 9.18%.

Centrum 4600 also has 5,000 sq ft of ground-floor retail space, let to Greggs and Francos, and is next to The Springs leisure destination, which is occupied by Odeon, Next, TK Maxx, and M&S, among others.

Oliver Rowe, director at Edwards, said: “This was an outstanding opportunity for our client to acquire a well-located, high-performing, and future-proofed asset.

“The combination of long lease commitments, a strong tenant covenant mix, and recent capital investment made Centrum 4600 an ideal fit.

“Located in one of Leeds’ most strategic and accessible business hubs, the asset is well-positioned for long-term performance.”