Freeman News / AFX - December 06, 2005
Songbird Estates plc's main operating unit, Canary Wharf Group plc, is selling long leasehold interests in 25 North Colonnade to Evans Randall, a privately held investment bank, for £191m. The selling price provides a net yield of 5.2%. The property is let to the Financial Services Authority until 2018 and current rent passing is £9.99m per annum. Canary Wharf is providing rental support of £0.46m until November 2006 and then £0.26m until November 2007, when the rental support will end. The property has been valued at £180m as at end June, the company statement added."
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Friday, December 16, 2005
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