DTZ Investors completes sale of 55 Gracechurch Street for £69m
DTZ Investors has completed the sale of 55 Gracechurch Street, EC3 to Hong Kong based Tenacity Group for a consideration in excess of the guide price. The sale was launched in May at a guide price of £60m, with the property attracting strong interest from both high net worth and institutional global investors. The property is securely let to four tenants with reversionary rents across the building of £40.68 per sq ft overall. The Royal London Mutual Insurance Society is the principal tenant, occupying the building as its headquarters and accounting for circa 61% of total income.
Cushman & Wakefield acted for DTZ Investors and Savills acted for the buyer.