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LONDON-Shaftesbury has added to its extensive portfolio in Soho and Covent Garden with the £27 million ($39 million) purchase of Wellington House, occupying a site of two-thirds of an acre between St. Martin’s Lane, Shelton Street and Mercer Street in Covent Garden, London WC2.

The property consists of 45,000 sf of offices, a 33,500 sf garage car park with a current capacity for 142 cars and a block of 12 flats. The investment is fully let, producing a current income of £1.45 million ($2.01 million) per annum, of which £375,000 ($540,000) per annum is from the car park. All leases expire by July 2004.

Completion is due on 30 November 2001.

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