Rugby Estates has sold the freehold of its single biggest asset – the 51,095 sq m (550,000 sq ft) Brunswick Centre in Bloomsbury, W1 – to Allied London for £13m. The deal reflects a 9% yield.
The scheme comprises 350 flats, 600 car parking spaces and a number of retail units let to, amongst others, Safeway, Iceland and Boots. The centre currently generates £1.2m pa but according to Michael Ingall, Allied London’s Group Property Director, this could rise to £2.5m after refurbishment.
Lesley Perkins advised Allied London, while Hillier Parker acted for the vendor Rugby Estates.
Council slams centre (Estates Gazette 28 June 1997)
Rugby to put Brunswick Centre on the market as pre-tax profits rise to £1.071m (EGi News 03/10/97)
EGi News 22/12/97
