Great Portland Estates’ (GPE) joint venture with Liverpool Victoria Friendly Society is selling Verulam Gardens, in Gray’s Inn Road, London, to Arlington Property Investors for £24.2m.
The REIT held steady after at trading update in which it said rents in the West End of London were continuing to tick upwards after several depressed years.
It achieved a 7.2% rise in adjusted NAV during the third quarter to £5.50 a share on December 31.
It reported the portfolio was valued at £1.42bn, up 6.1% during the period. The estimated rental value of the estate climbed 3.7%. Some £1.4m of new rents were secured through lettings during the quarter.
