Derwent London announces sale of Premier House SW1
06 Mar 2019
Derwent London is pleased to announce the exchange of contracts to sell the freehold of Premier House, 10 Greycoat Place, Victoria SW1 for £50.0m before costs. The 60,700 sq ft office was entirely let to IWG on a lease which expired on 1 March 2019. The disposal price is c.10% above December 2018 book value.
David Silverman, Investment Director at Derwent London, said:
"The disposal of Premier House will secure a significant premium above December 2018 book value. The proceeds from this sale will be recycled into our substantial on-site development pipeline.”