Saïd Holdings has completed the purchase of Aldermary House, 10-15 Queen Street, EC4, from Quintain for £48m.
Aldermary House is situated in the City, close to the Bank of England.
The mixed-use space comprises 63,631 sq ft over basement, ground and eight upper floors with 15 office and five retail tenants.
The purchase price represents a net initial yield of 6.5% and £754 per square foot.
Wafic Saïd, founder of Saïd Holdings, said: “We are pleased to see continuous demand for flexible real estate space in key London locations.
“This purchase demonstrates our confidence that the City of London will emerge relatively unscathed from Brexit.
“Saïd Holdings is a long-term investor and we expect the part of the City where Aldermary House is situated to benefit from other recent and planned developments, including the new Bloomberg building.
“We see plenty of opportunities to add value to our newly acquired asset, both in the short and long term.”
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