8th Dec 2015 09:10
LONDON (Alliance News) - Property investor McKay Securities PLC on Tuesday said it has sold the freehold on two adjoining buildings on Blackfriars Road in south London to Barts Charity for GBP21.5 million.
The properties are located opposite Southwark Underground Station and the larger of the two, 203 Blackfriars Road, offers 21,017 square feet of office space and is let to the Overseas Development Institute at a passing rent of GBP802,720 per year. The smaller of the buildings is let to IT Training Rooms Ltd at GBP52,000 a year.
The sale price represents a net initial yield of 3.8%.
Shares in McKay were up 0.4% to 267.96 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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