By Helen Crane2019-01-18T10:41:00
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.
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