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Beltane completes City double

Boutique City developer Beltane has completed a pair of off-market City deals as it continues to increase its pipeline in the capital.


The company has bought 108 Cannon Street, EC4, from a private Middle Eastern client of Knight Frank.


It paid around £16m, reflecting a yield in the region of 12%, for the 40,000 sq ft building.


Beltane has also completed the purchase of Asia House, Lime Street, EC3, from Land Securities, a deal it engineered at MIPIM.


It plans to refurbish both buildings.


GM Real Estate advised Beltane on Cannon Street; Knight Frank advised vendor.


jack.sidders@estatesgazette.com


 

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