Legal & General Property (LGP) has purchased three UK office assets for GBP 34 mln (鈧�40.1 mln).
Legal & General Property (LGP) has purchased three UK office assets for GBP 34 mln (鈧�40.1 mln).
The purchase of the three offices in Uxbridge reflects an initial yield of some 8.7% and was conducted on behalf of the company鈥檚 Managed Fund.
Two of the three buildings were purchased from Irish Life Assurance. The other property was purchased from Canada Life Assurance. LGP acquired all three buildings on a freehold basis.
The three buildings comprise some 147,000 square feet (13,700 m2) of office space and are currently let to office technology firm Xerox on leases that expire in 2017.
Gerald Eve acted for LGP in the purchase. Doherty Baines advised Irish Life Assurance and Savills represented Canada Life.
