Fund shops in east London
Standard Life Investments UK Property Fund has bought the 149,019 sq ft Gateway retail park in Beckton, E6, from Aviva for £48m – a 6.2% yield. Tenants include Pets at Home and Halfords. Savills advised Standard Life; Wilkinson Williams acted for Aviva.
Wax sets on Tussauds sale
Nick Leslau’s Secure Income REIT has exchanged contracts with Fubon Life Insurance Company on the sale of the home of Madame Tussauds on Marylebone Road, NW1. The Taiwanese firm has purchased the building for £332.5m – a 4.7% yield. Secure Income REIT was represented by CBRE; Patrizia UK acted as investment manager for Fubon.
Rockspring bags Oxon park
Rockspring Property Investment Managers has bought Abingdon business park in Oxfordshire from Standard Life Investments for £36.4m – a 7.2% yield – on behalf of its UK Value 2 fund. The park comprises 393,000 sq ft of office and industrial space across five buildings and development land. CBRE advised Rockspring; DTZ acted for Standard Life Investments.
Workspace buys Amnesty HQ
Workspace Group has bought Amnesty International’s former headquarters in Clerkenwell at 25 & 28 Easton Street, WC1, for £16.6m. The 21,000 sq ft property will be reconfigured and let as a business centre after a two-year leaseback to the charity. Cushman & Wakefield acted for Workspace; Deloitte advised Amnesty.
Toon buy works out for OLIM
OLIM Property has bought the Nuffield Health and Fitness Centre at Gosforth Park Way, Newcastle, for £4.7m – a 7.1% yield. The 37,652 sq ft property was bought on behalf of BAE Systems Pension Funds Trustees from a South African consortium. Lindley Mortimer acted for the vendor; Stephenson Day and Kitchen La Frenais Morgan advised OLIM.
