125,000 sq ft / 11,613 sq m
Four adjoining office buildings totalling 125,000 sq ft on the eastern edge of the City core acquired in 4 separate transactions between June 2004 and December 2006 for a combined £47.2 million; a yield of 8.4%.
The principal long leasehold interest was restructured and an intermediary leasehold interest was acquired. The principal office lease to Deutsche Bank was surrendered and the space simultaneously leased to ABN Amro. Rental values were increased by 54%, a massing study for a 300,000 at ft tower redevelopment was completed and the estate was sold in October 2007 to a private equity firm for £60.3 million; a 5.3% yield.See All Investments