Finance

GPE sells West End scheme to M&G for £50m

By 2018-04-23T07:06:00

78 92 great portland street

Great Portland Estates (GPE) has sold its mixed-use scheme at 78-92 Great Portland Street and 15-19 Riding House Street to M&G Real Estate for £49.6m.

The deal reflects a net initial yield of 3.9% on a topped-up basis and a capital value of £1,362 / sq ft. After deduction for outstanding tenant incentives and rental guarantees, the net price is £48.3m, ahead of the September 2017 book value.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue