£50.7 million / NIY - 5.54% / £988 per sq ft
51,331 sq ft
CBRE advised a Spanish private investor on the acquisition of this prime value-add asset in the heart of the City of London’s ‘tower cluster’.
The asset provided secure short term income with vacant possession achievable in 2023, providing a rare opportunity to deliver a best in class development in the city core.
In a competitive bidding process, the deal was secured in October 2020 for £50.7m reflecting a NIY of 5.54%, our client delighted with the result.
The client will continue to be advised by CBRE throughout their hold and development strategy.