HBG buys Longbridge site
HBG Properties has bought 14 acres (5.6ha) of development land at Longbridge, in Birmingham, from AMEC Developments, to build up to 226,000 sq ft of new offices.
It paid £4m for the site, known as Parklands. Work will start next spring.
Greek pays £30m in Lombard St
Israeli investor Aubrey Weiss, advised by Lewis & Partners and JLL, has sold 33 Lombard Street, EC3, to a Greek private investor advised by Makins Moore & Partners. The 51,400 sq ft (4,750m2) building let to Guinness Peat was sold for £29.5m, which reflects an initial yield of 8.5%.
Docs move out of Covent Garden
Dr Martens’ flagship store at 1-4 King Street in Covent Garden, WC2, is on the market. Landlord The Griggs Group, which also owns Dr Martens, has instructed agent Thomas Davidson to lease the 10,000 sq ft (930m2) building for over £700,000 pa. Dr Martens is expected to vacate the premises by Christmas.
133% gain for Compco
Central London investment company Compco has sold 253 Kilburn Lane, W10, to a private client of Ross Jaye Sayer. The purchaser paid £4.5m for the 28,600 sq ft (2,660m2) building, for which Compco paid £1.93m in 1999. Cardales acted for Compco.
£32m mixed scheme for Dublin
Plans for a £32m mixed-use development at 34/35 College Green in Dublin will be submitted in the next few weeks. Clarendon Properties intends to submit a detailed application to redevelop the Bank of Ireland building to create an 81,000 sq ft (7,500m2) office and retail scheme.
