Trevelyan House is located at the junction with Marsham Street, where the new Home Office is under construction. Constructed in 1985, it provides 60,000 sf of office space on eight floors. It is let to the UK government for 25.5 years from December 1985, and the June 2001 rent review was agreed at £2.415 million ($3.5 million) or £40.50 ($60) per sf per annum. Three government bodies occupy the building: The Office for Government Commerce, The Electoral Commission and the Health Development Agency.
The vendor has held the building since 1998. KP Fund is one of the largest property investors in Scandinavia, managing a life assurance fund and the pension fund for the municipal workers of Denmark.
Benchmark Chief Executive Nigel Kempner said: "Westminster has current significant potential due to the high level of government office requirements and limited supply of good quality office space. We are pleased to have acquired Trevelyan House, a quality property in the centre of Victoria, at an attractive yield of just under 8%."
CB Hillier Parker advised Benchmark Group plc and Cushman & Wakefield Healey & Baker acted for KP.
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