7 Moorgate sells for £27m
A private Argentinian client of Cordatus Real Estate has bought the long leasehold interest in 7 Moorgate, EC2, from Aberdeen Asset Management for £26.75m – a 5.2% net initial yield. Gryphon Property Partners advised the vendor; GM Real Estate acted for Cordatus.
Abu Dhabis nab Met HQ
The Metropolitan Police’s New Scotland Yard headquarters, SW1, has sold for £370m to Abu Dhabi Financial Group. ADFG will work with Northacre to redevelop the 600,000 sq ft property, starting in 2016 when it becomes vacant. It paid £120m above the guide price. JLL advised the vendor; the buyer was not represented.
Partridge sale in the bag
Columbus Capital Management has completed the sale of the light industrial Partridge Portfolio to Brockton Capital and Dunedin. The 3.2m sq ft portfolio, weighted towards the South East, was bought for £225.5m – a yield of 6.8% on a rent roll of £15.7m. JLL acted for Columbus, which is owned by Schroders; CBRE advised Brockton/Dunedin.
Barts sells Great Tower Street
DTZ Investors has bought 19-21 Great Tower Street, EC3, from Bart’s charity for £11.5m. The 17,871 sq ft office and retail block, which offers 2,000 sq ft floorplates, is short let and DTZI is expected to pursue a refurbishment. Colliers International advised DTZI; Gryphon Property Partners advised Barts.
Fund shoots for Cannon Street
CCLA has bought 80 Cannon Street, EC4, on behalf of the COIF Charities Property Fund for £44.5m. The 50,360 sq ft building is multi-let at an average passing rent of £43 per sq ft. It was sold by Capital Real Estate Partners on behalf of administrators at Zolfo Cooper; GS Capital Advisors acted for CCLA.
