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Great Portland Estates Sells London Property For $84M

admin January 10, 2020 Royal Mail Leave a comment 192 Views

Law360 (January 10, 2020, 1:58 PM EST) — Great Portland Estates has reached a deal to sell a mixed-use property in London for £64.5 million ($84.3 million), according to an announcement from the U.K. real estate firm on Friday.

Great Portland Estates PLC is selling 24/25 Britton St., and the company said the buyer is an “overseas investor.” The property is located close to the Farringdon and Barbican Tube stations.

The property has a mix of office and retail space, and the price works out to a net initial yield of 4.07%, the company said Friday.

“The property includes a glazed pavilion entrance, which provides natural light to the…

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