Land Securities has bought back an office building in the City of London, which it sold only five years ago
It has bought 47 Mark Lane from Hemingway Investment Partnership and Hemingway Capital for £55m, five years after selling it for £38m in 2001.
It includes 84,000 sq ft (7,804 sq m) of offices, 61,000 sq ft (5,667 sq m) of which is unlet, and 19,000 sq ft (1,765 sq m) of ground-floor retail.
The property will be included in LandSecs’ Landflex portfolio of managed office space, which was established in 2003.
The portfolio totals 740,000 sq ft (68,748 sq m) and includes London properties at 140 Aldersgate Street, EC1; the Empress State Building, SW6; 7 Soho Square, W1; and 40 Eastbourne Terrace, W2.
LandSecs has appointed Knight Frank as the office letting agent.