8th Oct 2018 08:15
LONDON (Alliance News) - FTSE 250-listed UK Commercial Property REIT Ltd said on Monday it has sold a London office building to Royal London Asset Management For GBP73.2 million.
The 49,094 square feet office building at 15 Great Marlborough Street includes 10,094 square feet of retail space, with the office space let entirely to digital entertainment firm Sony Interactive Entertainment and the retail space to Whitbread PLC subsidiary Costa Coffee and to gym Fitness First.
"Having completed a number of asset-management initiatives during our ownership, our decision to sell at this point in time crystallises significant value for our shareholders. This sale is in line with our strategy to grow earnings by transferring capital to higher yielding stock with sustainable income streams with growth potential," said Lead Manager Will Fulton.
Shares in UK Commercial Property were up 0.7% at 86.40 pence on Monday morning.
Related Shares:
UKCM.L