By David Parsley2018-10-03T07:13:00
Great Portland Estates (GPE) has sold 55 Wells Street in London’s West End for £65.46m in a deal that continues its strategy of selling its mature assets.
The deal reflects a net initial yield of 3.99% and a capital value of £1,674 / sq ft. The price equates to £64.6m after deduction of tenants’ incentives and vendor top ups. However, GPE only identified the buyer as an oversea investor.
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