24th Mar 2014 08:18
LONDON (Alliance News) - Real estate investment trust Shaftesbury PLC Monday said it has bought Jaeger House, 57 Broadwick Street, London for GBP30.75 million.
In a statement, the company said the property, built in 1970, currently comprises 24,900 square feet of office and retail space on the lower floors, and 37 flats sold on long leases above the commercial space. Commercial tenancies, which expire in June 2015, produce a current rental income of GBP0.9 million a year.
"The building offers a number of interesting options including the potential, subject to planning consent, to increase and reconfigure space and introduce new planning uses," it said in a statement.
"Jaeger House is a valuable addition to our substantial holdings in Carnaby and Soho, which now have a combined book value in excess of GBP860 million. Broadwick Street is a few minutes from the Dean Street entrance to the new Tottenham Court Road Crossrail hub," Chief Executive Brian Bickell said.
Shaftesbury shares were down 0.6% at 645.5 pence early Monday.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
SHB.L