Dorrington has bought a prime South Bank private rental block from the Crown Estate.
It is understood to have paid more than £44m – a 3.6% yield – for the Stamford Residence at 57 Stamford Street, SE1. The block, close to the Oxo Tower, has a rent roll of almost £1.6m pa from its 59 units.
The Crown Estate bought the Stamford Residence from Crest Nicholson for £23m in 2006.
Cushman & Wakefield acted for the Crown Estate; Dorrington was unrepresented.
