Land Securities has sold 98 Theobald’s Road in London’s Midtown to US property company Crescent Heights for £43m.
The deal, as tipped by Property Week 09.04.09, is Miami-based Crescent Heights’ first UK purchase.
98 Theobald’s Road, totalling 133,000 sq ft, is let to Warner Bros Entertainment until 2014 at £3.9m rent a year.
Eric Hopkins of Crescent Heights said: ‘Crescent Heights is excited to complete its first purchase in the UK. This purchase confirms our commitment to investing here and we will now move on to other acquisitions as part of our strategy of building a UK investment portfolio.’