CBRE Advises Aviva Investors on £24.45 Million Sale
London, 21 December 2009 – Aviva Investors, advised by CB Richard Ellis, has sold St Georges House, Wimbledon SW19 to Threadneedle for £24.45m, reflecting an initial yield of 7.84%.
The 1980’s 8 storey office property totaling 82,000 sq ft, is multi let to five tenants including Coty, URS and Progressive Recruitment and National Westminster Bank plc with an average unexpired lease term of 4.75 years.
Guy Bishop, Director of Regional Investment, CBRE said: “This property had been identified for sale for some time, and our client’s decision to bring it to the market this quarter proved to be excellent, with the property attracting a very high level of interest and over 15 offers. The sale price exceeded September’s valuation figure by close to 20%.”