Joint Treasure buys GVA HQ
Hong Kong private equity firm Joint Treasure is to make its debut purchase in the UK with the acquisition of GVA’s headquarters at 10 Stratton Street, W1. Joint Treasure, advised by BNP Paribas Real Estate, has exchanged contracts with Arab Investments to buy the 41,000 sq ft property for around £60m – a yield of 4.47%. H2SO advises Arab Investments.
MEC under offer on Bishopsgate
Receivers at King Sturge have put 6-8 Bishopsgate, EC2, under offer to Mitsubishi Estate Company for around £95m, reflecting a yield of 7%. The 140,000 sq ft building, which was previously owned by clients of Jesta Capital, was put into receivership and brought to market in March.
The Crown buys in St James’s
The Crown Estate has acquired the headlease of the 36,000 sq ft Trafalgar House, 11-12 Waterloo Place, SW1, for around £20m. The headlease, which has been bought from A&A Investment Group, has 68 years left to run. Knight Frank and Burgess Salmon advised the Crown; BNP Paribas Real Estate acted for A&A Investment Group.
Henderson grabs Delta Park…
Henderson has purchased Delta Park, a 150,400 sq ft industrial estate in Fareham, Hampshire, from Invista for £13.1m – an 8% yield. The estate is let to Coopervision Manufacturing for a further 10.5 years. Mason Philips acted for Henderson; King Sturge advised Invista.
…and buys Cardiff shed
Swansea-based Compton Group has sold a 19,000 sq ft retail warehouse in Cardiff Bay to Henderson for £5.4m. The purchase price reflects a net initial yield of 6.2%. Henderson has bought the unit for its £180m UK Property Fund. DTZ advised the vendor; Green & Partners acted for Henderson.
