Harbor Group International has sold the long leasehold of 27 Austin Friars, EC2, for £6.5m – a 4.6% net initial yield.
The private US group sold the 10,329 sq ft building to a privately-owned trust.
It is let to Cushman & Wakefield for 14 years with a privity of contract to Credit Suisse. The head lease has 107 years remaining and the current rental income is £330,000 pa.
Neil Frais Kelly advised the purchaser; Knight Frank acted for Harbor Group International.
joanna.bourke@estatesgazette.com
