The sale, which exchanged within two days of agreeing terms, also includes part of the remains of Winchester Palace and a leasehold interest in St Mary Overie's Dock, the home of a full-scale replica of Sir Francis Drake's Golden Hinde. the purchase price reflects a net initial yeild of 9.4%.
DNV will continue to occupy 60% of the building on a leaseback of their accommodation for fifteen years with breaks in the fifth and tenth years. The remainder of the accommodation is to let to the Dialog Corporation, a Thomson Group Company until 2006.
Cluttons represented DNV with GVA Grimley acting for Hanover Securities.
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