X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-AIM-listed property investor Halladale has sold Walpole House, a 30,800-sf office investment in Ealing, West London for £7.125 million ($11 million). It only acquired the property in February 2001 as part of a multi-property portfolio bought in conjunction with LaSalle Investment Management.

The office building is let to Thames Valley University for seven years at a rent of £20 ($31) per sf. The price paid by the purchaser, a client of Credit Suisse Property Investment Management, represents a net initial yield of 8.3%.

Halladale Property Director Ken Lindsay said: “This is a prime example of Halladale’s strategy of delivering value through active asset management, turning this office building into an institutional grade investment. The sale completes the asset management strategy for this property and follows successful lease renewal negotiations with the tenant. We look forward to working alongside LaSalle Investment Management on the remaining properties in this innovative project.”

The purchaser was represented by Makins Moore while Singer Veille acted for Halladale and LaSalle Investment Management.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.