London Office Building Sold For £26.5m
100 Middlesex Street based in Aldgate, London, has been sold by Blackstone to LaSalle Investment Management and Generation Estates for £26.5m.
Also known as ‘Nido’ and ‘Rodwell House, the property comprises two ground floor retail units, a gym, residential space and office space.
The building was designed by architects T P Bennett and opened in 2010.
The London office space is currently let to INTO UEA and is guaranteed by the University of East Anglia for a term of 20 years.
According to Property Week, Richard Debney, director at LaSalle Investment Management, said: “100 Middlesex Street was let at the bottom of the rent cycle in mid 2009 and includes fixed and RPI based rental uplifts. The property is an important addition to our portfolio.”
The deal reflects a net initial yield of 5.5%.