Workspace Group has bought two London office buildings in Wood Green and Surrey Quays for £24.4m.
The eleven floor, 55,000 sq ft Alexandra House in Wood Green, N22, is let to the London Borough of Haringey and was bought for £14m. It has a passing rent of £10 per sq ft and a yield of 3.7%. A rent review is due in 2016.
Cannon Wharf, a new business centre in Surrey Quays, SE8, was bought for £10.4m. The 33,500 sq ft centre forms part of the Greenland Place development by Barratt Homes.
Both properties are close to existing Workspace sites.
Jamie Hopkins, CEO of Workspace, said: “Both Wood Green and Surrey Quays are areas we know well and in which we are seeing high demand from new and growing companies.
“The purchase of these two properties demonstrates our ongoing commitment to investing in targeted acquisitions where we can add value to our portfolio and drive returns for shareholders.”
