Sorgente Group, the Rome based international real estate and asset manager, today announced its first investment in the UK commercial property market, with the acquisition of the prestigious Queensberry House building located in Mayfair, London. The complex transaction was finalized with a total expenditure of £167m, excluding taxes. The acquisition is the start of a strategic move by Sorgente Group to acquire commercial properties in the UK. The Group’s closed end real estate Donatello Fund David sub-fund has acquired approximately 22,000 square metres of commercial space, incorporating shops and offices across five floors of Queensberry House, with seven floors of car parking space beneath this, in addition to the top two residential floors covering approximately 1000 square metres. The property was owned previously by Aviva Investors, a global asset manager. It has two entrances, the office entrance is on Old Burlington Street and the retail entrance is on Saville Row, the shopping street renowned worldwide for its bespoke men’s tailoring services. Built in 1990, the building has produced an average annual rental yield of approximately five per cent and is currently fully leased to good standing tenants. (...)
Sorgente Group announces £167m investment in Queensberry House (London)
12/06/2012, 14:33 | Londra | Sorgente SGR S.p.A.
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