Freeman News - March 26, 2004
Land Securities has sold its interest in 190 High Holborn to a private investor for £42.5m. The 83,000 sq ft building is let to the London Qualifications Board on a 20-year lease with fixed uplifts every five years. The building generates around £2.52m a year in rent, equating to an initial yield of 5.95%.
LandSec acquired the building, formerly known as Enterprise House, from Compaq back in 2001. The company then undertook a comprehensive refurbishment of the building, which was completed in April 2002. King Sturge acted for LandSec. Velleman & Co represented the purchaser.
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