DTZ Investors completes sale of long leasehold interest in 140 Old Street, London
DTZ Investors has completed on the sale of the long leasehold interest in 140 Old Street, London. The property is a multi-let office building, providing 17,000 sq ft of accommodation arranged over lower ground, ground and four upper floors. The property is situated in close proximity to Silicon Roundabout and Old Street Underground Station.
The property was originally acquired as part of the Tech City Portfolio in 2014. Since acquisition, the asset has been repositioned, capturing rental growth through a refurbishment and re-letting programme.
The property was sold to Private Investor for £11.85m, reflecting a capital value per sq ft of £710.
Springer Nicholas and Lewis & Partners acted for DTZ Investors. Fineman Ross acted for the Purchaser.