5th Nov 2009 17:26
SALE OF BRACTON HOUSE HIGH HOLBORN LONDON WC1
UK Commercial Property Trust Limited has sold Bracton House, High Holborn, London, WC1 to a private Greek investor at a price of £9.815m, reflecting a surplus above their September Valuation
The entire building is fully let to Royal Sun Alliance (RSA Group) for in excess of 3 years. The RSA Group has sublet their interest and MWB Business Exchange is currently in occupation of the office accommodation; the retail unit has been let to EAT.
Robert Boag Investment Manager commented :
"Following a favourable rent review settlement in 2008 it was felt that the strong investor demand focused on central London offered a good opportunity for the company to dispose of one of its smaller assets where the prospect of future capital expenditure at lease expiry would impact on overall returns"
Related Shares:
UKCM.L