Evans Randall sells £40m Docklands data centre

Evans Randall Sovereign House

Private equity investor Evans Randall Investors has sold its London data centre Sovereign House to the tenant Digital London for £40.35m.

The deal, which represented a net initial yield of 4.8%, has completed in the same week that Property Week revealed the firm, run by founders Kent Gardner and Paul Kendrick and former BNP PRE UK chief executive John Slade, has pulled out of exclusive talks to acquire the £200m Clerkenwell Collection from the Sheinman family.

Located at Marsh Wall in London’s Docklands, Sovereign House occupies a virtual freehold island site, and offers more than 72,000 sq ft of flexible commercial space over basement, ground and five upper floors. It is let in full to new owner Digital London, a wholly owned subsidiary of Digital Realty Trust, one of the largest US REITs specialising in carrier-neutral data centres.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article

Registration includes the following benefits:

  • Access up to four FREE articles per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.

Registered users and subscribers SIGN IN here to continue