Mayfair Capital Investment Management has purchased the Tower Retail Park in Poole, Dorset, from a joint venture between the BP Pension Fund and Cubemaker for £12.7m. The purchase of the 77,580 sq ft four-unit park from the Anthonymaker JV reflects a 6.7% yield. Montagu Evans advised MCCPT; Anthonymaker was unrepresented.
L&O lifts historic Stone
London & Oriental has bought the 150-year long leasehold interest in the home of the historic “London Stone” at 111 Cannon Street, EC4, from a private family trust for £7.5m – a yield of 3.4%. Fletcher Priest Architects has been appointed to improve on the 20,000 sq ft office and retail consent, expected to complete by 2017. Allsop acted for the vendor; Cushman & Wakefield advised L&O.
Standard deal for charity
Barts and the London Charity has agreed an off-market deal to sell the 44,300 sq ft 1-3 Eldon Street, EC2, to Standard Life for £27.5m, reflecting a 4.65% net initial yield. GS Capital advisers acted for Standard Life; Gryphon Property Partners advised BLTC.
Harrow wraps up parcel deal
Harrow Estates has bought an 11.8-acre plot of land in Bracknell, Berkshire, for £14m from Savills Investment Management. Parcel 13b forms part of a wider allocation for 2,200 new homes in the period up to 2026. Savills advised Savills IM; Harrow was unrepresented.
Japanese buy Moorgate multilet
The Church Commissioners has sold 17 Moorgate, EC2, to a private Japanese investor for £17m – a 3.5% net initial yield. The Church Commissioners bought the multilet office and retail building from Stockland in 2011 for £10.5m, reflecting a 5.5% yield. Gryphon Property Partners advised the vendor; Savills acted for the purchaser.
Mayfair dives in to Poole Tower
Mayfair Capital Investment Management has purchased the Tower Retail Park in Poole, Dorset, from a joint venture between the BP Pension Fund and Cubemaker for £12.7m. The purchase of the 77,580 sq ft four-unit park from the Anthonymaker JV reflects a 6.7% yield. Montagu Evans advised MCCPT; Anthonymaker was unrepresented.
L&O lifts historic Stone
London & Oriental has bought the 150-year long leasehold interest in the home of the historic “London Stone” at 111 Cannon Street, EC4, from a private family trust for £7.5m – a yield of 3.4%. Fletcher Priest Architects has been appointed to improve on the 20,000 sq ft office and retail consent, expected to complete by 2017. Allsop acted for the vendor; Cushman & Wakefield advised L&O.
Standard deal for charity
Barts and the London Charity has agreed an off-market deal to sell the 44,300 sq ft 1-3 Eldon Street, EC2, to Standard Life for £27.5m, reflecting a 4.65% net initial yield. GS Capital advisers acted for Standard Life; Gryphon Property Partners advised BLTC.
Harrow wraps up parcel deal
Harrow Estates has bought an 11.8-acre plot of land in Bracknell, Berkshire, for £14m from Savills Investment Management. Parcel 13b forms part of a wider allocation for 2,200 new homes in the period up to 2026. Savills advised Savills IM; Harrow was unrepresented.
Japanese buy Moorgate multilet
The Church Commissioners has sold 17 Moorgate, EC2, to a private Japanese investor for £17m – a 3.5% net initial yield. The Church Commissioners bought the multilet office and retail building from Stockland in 2011 for £10.5m, reflecting a 5.5% yield. Gryphon Property Partners advised the vendor; Savills acted for the purchaser.
chris.berkin@estatesgazette.com
Mayfair dives in to Poole Tower
