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Juniper scales new heights with HPG at Mount Pleasant House

Wed 18 Dec 2013

Juniper scales new heights with HPG at Mount Pleasant House

Rounding off a busy year for Juniper, Jamie has advised a joint venture company comprising HPG Developments and Osborne on the freehold purchase of Mount Pleasant House at the top of Castle Hill for over £10m. The 41,600 sq ft building is fully let on a variety of leases with a total rental income of £740,000 pa and provides the JV with opportunities for asset management and the potential for alternative uses as the existing leases fall in over the next few years. “We are delighted to have advised the JV in a major investment transaction in Cambridge” comments Jamie, adding that “freehold deals are a bit of a rarity with the University and the colleges owning large tracts of Cambridge. Juniper had previously advised the landlord, USS, in the letting of some smaller suites earlier in the year and we were therefore keen to keep an eye on this one.”

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