British Land Sells 2-3 Triton Square To Abbey For GBP115 Million
03 Avril 2009 - 8:41AM
Dow Jones News
The British Land Company said Friday that it has completed the
sale of 2-3 Triton Square, Regent's Place, London NW1, to Abbey,
for GBP115 million, reflecting a net initial yield of 7.2%.
The 200,000 sq ft Grade A office accommodation was developed by
British Land in 2002 and is let in its entirety to Abbey on a lease
expiring in April 2022.
The current passing rent is GBP8.68 million per annum.
Tim Roberts, Director of British Land and Head of Offices said:
"The sale is in line with our strategy to recycle capital towards
opportunities which will offer greater risk adjusted returns in the
future."