Kevin McCabe’s SCAMP Holdings has purchased two offices in the City of London for £65m
The investment and development company has bought 12 Smithfield Street, a six-storey, 100,000 sq ft (9,290 sq m) office and 12 Cock Lane, an office of 25,210 sq ft (2,342 sq m) from a Pinder Fry Investment Fund and a private client of Lewis & Partners respectively. The deals reflected a 5% yield.
Occupiers in the offices include legal firm Travers Smith and Brewin Dolphin Securities.
SCAMP is currently bidding to take over quoted fund manager Teesland, which is chaired by McCabe.
McCabe said: ‘We can add some significant value to these properties over a relatively short time frame. Following this, we may retain them as part of a portfolio building exercise with a view to possibly launching a City of London opportunity fund.’
SCAMP was advised by Lambert Smith Hampton on both deals. Cushman & Wakefield acted for the Pinder Fry Investment Fund.