Savills - Offices Sale - London

Date: 24 Apr 2008

Henderson, advised by Savills, has sold 50 Broadway to German fund, Pramerica for £58.5 million, reflecting a net initial yield of 5.83%.

The 72,899 sq ft (6,772 sq m) Grade A office property is located opposite St James' Park underground station. It was rebuilt in 2001 and is let to Regus and law firm Bircham Dyson Bell on a lease expiring 2017.

The total annual rental is £3,605,046.

Chris Gillum, director of Savills central London investment team, comments: "We are pleased to have achieved our client's aim of disposing of 50 Broadway to allow them to re-invest in properties offering more short term asset management opportunities''.

Pramerica was advised by King Sturge.

50 Broadway, St James' Park London