Search
 

Aberdeen Invests in the City

LONDON-Aberdeen Property Asset Managers has bought Centurion House, 24 Monument Street, London EC3 from clients of Clerical Medical Investment Management.

By Graham Parker | Updated on May 23, 2001

LONDON-Aberdeen Property Asset Managers has bought Centurion House, 24 Monument Street, London EC3 from clients of Clerical Medical Investment Management. The purchase price of £32.025 million ($45.8 million) reflects a net initial yield of 8.6%.

APAM bought the property on behalf of the Barclays Bank UK Retirement Fund. Centurion House comprises 61,978 sf of offices and is let to Nomura International at a rent of £2.91 million ($4.16 million) per annum, equating to £46.95 ($67.14) per sf on a 25-year lease from 25 December 1984. The building is sublet to Merrill Lynch, Securities Institute, Metromedia Fiber Network and First National Bank.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.