A portfolio of six properties was sold to Dawnay Day for £12.9 million ($19.7 million) at an initial yield of 8.3%. At the same time an office property at 18/20 Sheet Street, Windsor, Berkshire , was sold to private clients of Michael Peachey & Co for £1.15 million($1.75 million) representing an initial yield of 9.5%. And Grosvenor Securities Limited has acquired 20 York Buildings, London WC2, for £2.585 million ($4 million) at an initial yield of 6.14 %. Allsop & Co acted for Grosvenor.
Richard Moore, Property Director at Warner Estate said: "This is part of our strategy to focus on larger assets, where we can add significant value through our asset management operations. The market for smaller lot size properties is exceptionally strong. We have taken advantage of these market conditions to release funds that we can re-invest into assets with better growth potential."
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