UBS Global Asset Management’s Global Real Estate business in the UK has confirmed its £113m purchase of New Brook Buildings, WC2.
The £113.5m purchase price for 95,000 sq ft 8-18 Great Queen Street, reflects a 4.76% net initial yield.
The confirmation follows Estates Gazette revealing last month that UBS was poised to buy the London office asset from Sinar Mas Land.
Howard Meaney, head of Global Real Estate’s UK business, said: “New Brook Buildings is a well-let prime asset in the heart of central London and offers strong prospects for rental and capital growth.”
Tudor Toone acted for UBS; GM Real Estate advised the vendor.
