INDUSTRY NEWS

Henderson sells London office to Zurich fund for a reported £11.5m

Henderson has sold a London office building for a reported £11.5 million.

The Henderson UK Property Fund has agreed to sell the office, located in Greater London, to a Zurich based investment fund.

The building, 13/14 Buckingham Gate, features a total of 12,515 sq ft of London office space and is currently let to six tenants. All leases are set to expire between 2015 and 2021.

It is particularly appealing to overseas investors as it has a central location and offers tenants views of Buckingham Palace.

Henderson  property director, Cameron Fraser, said: “This asset has been a clear example of the Fund’s ability to identify optimum exit timing.

“Having identified a core prime asset with clear asset management potential, we were then able to capitalise on the strong market sentiment and are delighted by the keen pricing and performance achieved over the investment period.

Having outperformed the Fund’s IPD benchmark over the last five quarters, this sale will contribute to yet another strong period for the Fund.”

Henderson is a leading independent global asset management firm with its principal place of business based in London, but it also has European offices in Zurich, Amsterdam, Madrid, Edinburgh, Paris, Luxembourg, Milan,Vienna and Frankfurt as well as a number of offices in America and Asia.

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