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LONDON-Compco, the quoted property minnow, has bought the freehold interest in a 102,000 sq ft office block from fund manager Allied Dunbar Assurance for £23.9m.

The offices at 163-203 Eversholt Street, Euston, London NW1, are sited on 0.93 acres with 22 car parking spaces.

The property is multi-tenanted and fully let with a current income of about £2.1m a year. Nigel Ross, Joint Chief Executive of Compco Holdings, said: ‘This purchase ties in with Compco’s nearby Camden holdings and our philosophy to buy now only at sensible capital value levels. The property offers excellent office space, and 65% of the income is secured for a term of 5 years or more from good quality tenants.’

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