16th Dec 2015 08:22
LONDON (Alliance News) - Property developer U&I Group PLC on Wednesday said it has exchanged contracts to sell Becket House near Waterloo station in London for GBP112.0 million.
U&I has a 15% stake in the joint venture which owns the building, with the other 85% owned by partner Proprium Capital. U&I will make a GBP4.0 million profit on the sale.
The pair acquired the building, a commercial office building offering 146,000 square feet of office space, in 2014 and have sold it to Guy's and St Thomas' Charity.
"The gains generated from today's disposal further underpin our ability to realise our anticipated full year target for the business," said U&I Chief Executive Matthew Weiner.
Shares in U&I were up 1.9% to 223.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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