London Life Sells Croydon Office Investment

LONDON-A 1960s office building in Croydon, South London, has gone at a 10%-plus yield. Henderson Global Investors, acting for London Life, disposed of the building on Dingwall Road.

By Charlie Jacoby | January 07, 2002 at 01:01 AM

The property comprises a 33,064-sf 1960s office building and is let to Staveley Industries until 23 June 2007 at a rent of £430,667 ($620,160) per annum.

Requira, a company linked to Standford Properties, bought it for £3.75 million ($5.44 million), reflecting a net initial yield of 10.86%. Andrew Barrs & Co advised the purchaser and Nelson Bakewell acted for Henderson.

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