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FISPAM Sells City Office Site

LONDON-FISPAM has sold its 19,000 sf office building at 41 Eastcheap, London EC3, to Store Property.

By Graham Parker | Updated on June 08, 2001

LONDON-FISPAM has sold its 19,000 sf office building at 41 Eastcheap, London EC3, to Store Property for £6.1 million ($8.54 million). The existing building, currently vacant, has planning consent to develop 23,000 sq ft behind the existing façade.

The property drew several bids in excess of £5.5 million ($7.7 million) and Chichester-based Store Property exchanged within 30 hours of receiving the draft contract. This will be Store Property’s fifth central London office development in three years.

FISPAM has focused its efforts on fine-tuning its central London portfoli over the last six months, with over £75 million ($105 million) invested in 84 Eccleston Square and 21 Dartmouth Street, both in Victoria, and 1 Kings Arms Yard in the City.

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