Invista - North London

Date: 17 Jun 2009

Invista Real Estate Investment Management announces that it has sold the freehold interest of St Mary's Court, Regents Park Road, London N3 to a private investor for £7 million, on behalf of a client.

The property is a modern office building and was sold following the completion of a lease renewal to the Secretary of State for 10 years, agreed in April 2009 at a passing rent of £434,100 pa (£20 psf). The purchase price reflects a net initial yield of 5.86% and contracts were exchanged within 48 hours.

Michael Elliott acted on behalf of Invista and the purchaser was represented by Ereira Mendoza and Robert Irving & Burns.

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