Richard Susskind & Co - Offices Sale - London

Date: 30 Apr 2008

Dorrington Plc have paid £22m to vendor Invista Real Estate for Gullivers House, Goswell Road, London EC1M 7GT, representing an initial yield of 6%. The 54,400 sq ft refurbished office building was constructed in the early 1990's and is let for 14 years to Gullivers Travel Associates at a current rent of £1.4m. The rent equates to just under £26 per sq ft and is subject to review in 2012, with a break in year 9.

Dorrington paid £22m for the freehold interest in a transaction, which exchanged in just 4 days.

GVA Grimley represented Invista and Clerkenwell specialist Richard Susskind & Co advised Dorrington.

Gullivers House, Goswell Road, London