AIM-listed property investor Conygar has completed its second London acquisition in five months, buying eight properties near the Strand for £33.9m
The buildings, which are 6-8 and 10-14 Buckingham Street and 27 and 29 John Adam Street, both in WC2, comprise 54,000 sq ft (5,017 sq m) of offices. At present, 20 tenants occupy 36,000 sq ft (3,344 sq m), generating an annual rental income of £1m.
Conygar said it was in advanced talks to let a further 11,000 sq ft (1,022 sq m) and the remaining 7,000 sq ft (650 sq m) will be refurbished and relet.
The acquisition comes after Conygar bought a terrace of 14 office properties in Bedford Square, Bloomsbury, from the Crown Estate for £57.8m. Tenants included the London School of Hygiene and Tropical Medicine and the Secretary of State for the Environment.
Conygar is run by former MEPC directors Robert Ware, Steven Vaughan and Peter Batchelor.