Aviva tunes in for BBC site
Aviva Investors has paid around £60m, a 3.75% yield, for the 100,000 sq ft first phase of Stanhope’s redevelopment of the former BBC Television Centre, W12.
The long leasehold interest in White City’s stage 6, home to BBC Worldwide, was on the market for £55m.
Stanhope, advised by DTZ and LSH, retains the freehold. JLL acted for Aviva.
Threadneedle sews up SW1 buy
Threadneedle Investments has exchanged contracts to buy 1 Neathouse Place, SW1, for £102m – a circa 5% yield.
The 117,000 sq ft block is the headquarters of mining giant BHP Billiton.
Colliers International acted for vendor IVG. DTZ advised Threadneedle.
OLIM gets another round in
OLIM Property has bought seven Stonegate pubs for £9.7m, a net initial yield of 7.5%.
This adds to the 15 Stonegate pubs it bought last year for £28.2m.
Both portfolios were sold by PFA Acquisitions.
Fleurets and Kitchen La Frenais Morgan acted for OLIM; Coffer Corporate Leisure acted for PFA.
SA fund lands Guernsey block
South African fund Stenprop has bought a 113,000 sq ft office building in Guernsey from Trafalgar Court for £61m – a net initial yield of 6.5%.
The property, known as Trafalgar Court, represents around 10% of Guernsey’s office market stock and is let to Northern Trust and Aztec Holdings.
Colliers International acted for Trafalgar Court. Stenprop was unrepresented.
LAMIT buys Iceni Centre
Local Authorities’ Mutual Investment Trust has bought the Iceni Centre office complex at the Warwick Technology Park from Praxis for £16.1m, reflecting a sub-7% yield.
The 75,000 sq ft building is the main asset in the technology park.
Finn & Company acted for Praxis, Joiner Cummings acted for LAMIT.
