The Corporation of London has sold two freehold commercial properties in EC3 for a combined total of more than £3.7m.
Unity Overseas has paid in the region of £2.5m for 130-135 Minories, a 19,000-sq ft office building where tenants include Fenchurch Insurance Group and Unity Trust Bank.The property will produce an annual income of around £283,000 pa when a rent-free period expires in September.
An 11,500-sq ft shop and office building with potential for redevelopment at 87-89a Aldgate High Street and 37 Jewry Street has been bought by GMS Estates for £1.2m. The building is let to nine tenants on leases with a running development option. Rental income stands at £99,675 pa, with 4,000 sq ft of offices vacant.
Connell Lake advised the Corporation, while Constant & Constant acted for Unity Overseas. Gibbon & Rogers and Conrad Ritblat Sinclair Goldsmith advised GMS Estates.
