Selfridges’ parent buys in EC1
The family holding company behind Selfridges, Primark and Fortnum & Mason has bought Minerva House at 26-27 Hatton Garden, EC1, for £8.2m – a circa 3% yield. Whittington Investments has bought the 13,182 sq ft block, home to Richard Susskind & Company, from Terremer Etablissement. Springer Nicholas advised the purchaser; Richard Susskind advised the vendor.
Rockspring sells Fox Court
Rockspring’s Hanover Property Unit Trust has sold Fox Court, WC1, to Karlin-backed Magnus Real Estate for £70m – a 2.9% yield. Hanover has owned the 99,644 sq ft block at 14-22 Grays Inn Road since July 2010 and has won consent for an extension. Rockspring was advised by Knight Frank; Vengrove represented Magnus.
LaSalle grabs hospital freehold
Secure Income REIT has sold the freehold of New Hall Hospital in Salisbury, Wiltshire, to clients of LaSalle Investment Management for £49.8m – a 5.3% yield. The rental income of £2.8m has uplifts of 2.75% on five-year open-market reviews. CBRE acted for Secure Income REIT; Bilfinger GVA and Lewis & Partner advised LaSalle.
CBRE GI unloads Leeds estate
CBRE GI has sold Wellington Road Industrial Estate in Leeds to a joint venture between BlackRock and Canmoor for £5.8m – a 6.5% yield. The 103,545 sq ft park is let to tenants including Pendragon and Royal Mail and has 11% vacancy. Savills acted for the purchasers; Knight Frank advised CBRE GI.
M&G buys Copenhagen retail
M&G Real Estate has bought a 39,051 sq ft high street retail asset in Copenhagen from GEC Gads Fond for €33m (£24m) – a 4% yield. M&G Real Estate was represented by Capital Investment; CBRE acted for GEC Gads Fond.
