Avignon buys Old School House
Avignon Capital has bought the Old School House in Shoreditch, EC2, from a private individual for £5.1m – a 2.53% yield. The Grade II listed Victorian property comprises 4,588 sq ft of offices and provides a passing rent of £29.81 per sq ft. Danesborough Properties advised Avignon.
TH goes shopping in Thurrock
TH Real Estate has bought Thurrock Shopping Park in Essex from Hammerson for £93m – a net initial yield of 5.3%. The park comprises two retail schemes totalling 274,480 sq ft and is next to junction 31 of the M25. Hammerson bought the park for £64m in 2012. TH Real Estate was advised by Morgan Williams; Hammerson was unrepresented.
Pension assembles in Clapham
DTZ Investors, on behalf of Strathclyde Pension Fund, has bought 80-86 St John’s Road, Clapham, SW11, from a private investor for £10.7m. The end-of-terrace property contains a shop and nine flats. Strathclyde already owns 48–78 St John’s Road. CBRE advised DTZ Investors; Robert Bebington and Company advised the vendor.
Banda buys in Brixton
Banda Property has bought a site in Brixton, SW2, for £8m to redevelop and build 16 houses. Work on the site in Mandrell Road is expected to start in September. Banda bought off-market through its in-house team. Banda and the private vendor were not represented.
NewRiver flies in for Cuckoo
NewRiver Retail has bought the 130,000 sq ft Cuckoo Bridge retail park in Dumfries from British Land for £20.2m. The price reflects a net initial yield of 7.05%. Eric Young & Co acted for British Land; McMullen Wilson advised NewRiver.
