80 Leadenhall Street sold in £14.6 million deal

A private UK property company has purchased 80 Leadenhall Street for £14.6 million.

Henderson Global Investors offloaded the asset on behalf of its £690 million Central London Office Scheme.

Henderson Global Investors has announced it has sold one of its major London office schemes to an unnamed UK property company on behalf of its £690 million Central London Office Fund.

80 Leadenhall Street, which offers 23,000 sq ft of office and retail space, was sold for £14.6 million, reflecting a net initial yield of 5.4%. Home to a range of tenants including Hartford Financial and National House Building Council, the EC3 property was recently refurbished by the fund to provide quality, Grade-A standard office space across six floors.

Located between the financial and insurance districts, 80 Leadenhall Street is also part-let to CMS Cameron McKenna who agreed to take a new 10 year lease last summer after pulling out of a deal with Henderson to relocate to the Principal Place development in EC2.

The sale comes in the same week that British Land and Barratt announced they had teamed up to purchase 1&2 Aldgate Place from Tishman Speyer. Located on the City fringes, the site has already been granted planning permission for a 850,000 sq ft office scheme.

Commenting on the acquisition, regional managing director of Barratt London Alistair Baird said: “We are delighted to have secured this prime edge of City site which builds on our commitment to deliver high quality developments throughout central London.”

“It consolidates our presence in the exciting Aldgate area alongside our 27-storey Altitude development on Alie Street which has already sold 20 units after its recent launch.”

Author: Amy Edwards | | 0 Comments

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