Hermes Real Estate has sold its property at Carlton House Terrace to Darfield Investment Holdings, a joint venture between the London-based wealth management business Credo Property Group and the South African real estate investor Investec Property Investments.
The site at 20-24 Carlton House Terrace in London, which houses over 90,000 square feet of Grade A office space, was bought for around £70 million.
Set in a prime Westminster location, all of the office space is let for another 11 years to the UK branch of mining group Anglo American Plc.
The development also holds 14 apartments, which are let to the City of Westminster until 2073, providing a strong investment opportunity for both partners. Credo’s Managing Director commented, ‘We believe this building satisfies the fundamentals we look for – in other words a strong tenant, a great location, sensible rents and growth potential.’