Prupim has bought a prominent office building in London’s Hammersmith for £53.7m.
The fund manager bought the 126,000 sq ft Metro building, which is located opposite the Ark on 1 Butterwick in Hammersmith, for its Prudential Life Fund.
The building has one floor remaining to be let following the refurbishment 12 months ago by owner Capital & Counties.
The deal represents a yield of 5.6%.
Chris Perkins, director of fund management at Prupim, said: ‘Hammersmith’s excellent transport connectivity and significant rental discount to the West End along with the Metro Building’s ongoing asset management potential provides excellent scope for out-performance.’
Capital & Counties said that the time was right to sell the property following the refurbishment and lettings it had completed.