UBS Asset Management’s Real Estate & Private Markets has sold two properties in the City of London for a combined £77m.
British Land has paid around £37.5m for 158-164 Bishopsgate, EC2, and a private investor has picked up 21 Wilson Street, EC2, for around £39.5m.
The Bishopsgate property, which UBS has owned for five years, totals 49,484 sq ft, of which 35,022 sq ft is retail and leisure space.
The 38,565 sq ft 21 Wilson Street was acquired by UBS in 2013 as part of a sale and leaseback transaction. It is let to private bank Arbuthnot Latham & Co
Howard Meaney, head of real estate – UK, said: “We have taken the decision to crystallise the value generated for our clients following the successful execution of our asset business plans.
“Both properties are well located close to Liverpool Street Station, which will be a major Elizabeth Line hub within London’s Crossrail route, and have benefitted from this prospect as well as wider investment in the surrounding area.”
BH2 advised on the sale of Wilson Street; BH2 and GCW advised on the sale of Bishopsgate.
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