Mansford drives into Woolwich
Mansford has completed the acquisition of the Woolwich Arsenal Estate, comprising over 100 properties in south-east London, for £52.5m – a 5% yield – from Powis Street Estates. It comprises 56 shops and more than 50 flats. Colliers International acted for Mansford; Cradick Retail, Real EstateIM and Lewis & Partners represented Powis Street Estates.
Topland exits Gresham Street
Starwood Capital and CORE are in talks to buy Leith House, 51-55 Gresham Street, EC2, from Topland Group for around £45m. The joint venture partners plan to refurbish the 70,000 sq ft property when the Association of British Insurer’s lease expires in March 2016. Strutt & Parker is acting for Topland; BNP Paribas Real Estate is representing the purchasers.
Standard Life shops in Thanet
Standard Life Investments UK Property Fund has purchased 46,000 sq ft The Link retail park in Thanet, Kent, for £17.1m – a 5.7% yield – from Carillon Richardson. BNP Paribas Real Estate acted for Standard Life Investments; Stockford Anderson and Curson Sowerby Partners advised Carillon Richardson.
Stena sails out of Leman Street
Standard Life has bought 100 Leman Street, E1, from Stena for £41m. The 90,000 sq ft building is multi-let to tenants including Generali with leases expiring in March next year. Stena was advised by Trinova Real Estate; Allsop acted for Standard Life.
Pioneer offloads Hanwell
Pioneer Real Estate has disposed of its remaining 61,000 sq ft interest in Boston and River Brent business parks, Hanwell, west London, to Capital Industrial One BV for £5.7m – a 6% yield. Heywood and Partners acted for Pioneer Real Estate; MBH LLP advised the purchaser.
