Hermes has acquired a prime commercial property asset in south-west London for £58 million.
Property investment firm Hermes has snapped up a prime
commercial development in south-west London, in a deal worth £58 million.
Wimbledon Bridge House, which comprises 168,000 sq feet of office accommodation, four retail units and a 300-space car park, was sold by European Property Investors Special Opportunities (Episo).
The sale reflects a net yield of 7.1 per cent, as Episo bought the property in September 2009 for £40 million.
As an attractive prime asset, the property already has 100 per cent occupancy, with tenants that include Wandsworth Primary Care Trust, WH Smith and Next.
"[The UK market's] robust demand and attractive pricing is the background against which the fund decided to take profits for its investors after a relatively short period of time," said the Episo fund portfolio manager and advisor Ric Lewis.
Earlier this week, Leadenhall Court, a commercial development which sits in the heart of the City of London, was acquired by property investment firm Hammerson for £65 million.
Posted by Allan Flowers.
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