Short Leasehold Sale In EC4 Achieves 13.1% Yield

August 20, 2015

The McTaggart Third Fund has sold the short leasehold interest in 6-7 Queen Street, EC4 for £2.5 million to Leicestershire County Council Pension Fund represented by Colliers Capital.

The lease is held from The Mercers Company for 80.25 years from June 1947 and expires on 29th September 2017. The ground rent is fixed at £1,600 pa. The 9,855 sq ft property is fully let to one retail and six office tenants and has a current passing rent of £347,968 pa.

Hanover Green acted for the vendor.

 

– ends –

 

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