Former Home Office block sold
Redefine International has sold the former Home Office building in Croydon to a Guernsey-registered fund for £8.4m. St Anne’s House is to be converted into a £20m 144-bedroom hotel and 46 flats. Stiles Harold Williams and Brown Cooper Marples acted for Redefine; the buyer was unrepresented.
InfraRed shops in Essex…
InfraRed Capital Partners has confirmed its purchase of the Eastgate mall in Basildon, Essex, from British Land for £88.6m – a 7.2% yield. Hark Group has been appointed asset manager and Munroe K Asset Management property manager of the 643,000 sq ft shopping centre. Cushman & Wakefield advised InfraRed; Strutt & Parker acted for BL.
…and buys sheds in Leeds
F&C REIT Asset Management has sold Leeds 27, a group of seven sheds on the Bruntcliffe industrial estate in south Leeds, to InfraRed Capital Partners for £16m – an 8.5% yield. The sheds total 332,000 sq ft and are let to six tenants, producing rent of £1.4m pa. Jones Lang LaSalle acted for F&C REIT; Woolhouse Real Estate advised InfraRed.
Gazelli draws up a deal in W1
Gazelli Art House has bought 39 Dover Street, W1, for £29m – a 2% yield. Gazelli was already a tenant at the 9,600 sq ft property and will continue to use part of the building for exhibition space. The upper floors are used as offices. GM Real Estate acted for the vendor, Trust for London; Gazelli was unrepresented.
Aussies sell Exeter block
Australia-based Felton International has sold Clarendon House in Exeter, Devon, to a private client of Hartnell Taylor Cook and JP Elliott for £3.7m – a 7.6% yield. The 34,000 sq ft office block is let to the Ministry of Public Buildings & Works for 19 years at rent of £297,500 pa. The vendor was unrepresented.
