4th Nov 2014 07:58
LONDON (Alliance News) - LondonMetric Property PLC on Tuesday said it has struck a deal to sell its One Carter Lane property in central London for GBP138.8 million.
The group is selling the business to Vietnamese group Fubon Life Insurance Company Ltd, subject to regulatory approvals.
The property, located opposite St Paul's Cathedral, is currently 73% let by floor area to MFS and SEB, with negotiations underway for another tenant to fill the remaining space, FTSE 250-listed property company LondonMetric said.
"Carter Lane is a prime office development which has benefitted strongly from market and asset management driven valuation growth, and we believe now is the right time to capitalise on this. A sale will release cash for reinvestment into our strong pipeline of opportunities in our core areas of retail and retail distribution," said LondonMetric Chief Executive Andrew Jones.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
LondonMetric