UBS Global Asset Management, advised by King Sturge, has sold the 11 Pilgrim Street office building in the City of London to US investor Pramerica for 拢52 mln (EUR 58 mln). The transaction reflects a net initial yield of 7.5%.
UBS Global Asset Management, advised by King Sturge, has sold the 11 Pilgrim Street office building in the City of London to US investor Pramerica for 拢52 mln (EUR 58 mln). The transaction reflects a net initial yield of 7.5%.
The building is multi-let to three tenants on a weighted unexpired term of 12 years. It provides around 100,000 sq ft (9,300 m2) of office space on seven floors.
