Derwent London Plc. (DLN.L) Monday announced that it has exchanged contracts for the disposal of freehold interest in 57 Broadwick Street, London W1 to Shaftesbury Plc (SHB.L) for 30.75 million before costs.
According to the company, the property provides 24,900 sq ft of office and retail accommodation. The office component set over ground, first to third and part fourth floor of the podium comprises 23,200 sq ft and is let on a lease to Jaeger London Limited due to expire in June 2015.
The disposal reflects a net initial yield to the purchaser of 2.7%, Derwent said.
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