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Morley Fund Management Sells West End Office Investment

London-A private investor has bought Morley Fund Management's 33,000-sf investment at 7-10 Waterloo Place in St James's for pounds 19 million ($27 million)

By Graham Parker | Updated on April 18, 2002

LONDON-Morley Fund management has sold its refurbished office investment at 7-10 Waterloo Place, St. James’s, London SW1 to a private investor for £19 million ($27 million). The Grade II listed building comprises 32,335 sf of high quality air conditioned office and banking accommodation. It is held on a long lease from The Crown Estate with 113 years unexpired.

More than 90% of the income derives from a letting to LloydsTSB Bank on a lease expiring in March 2015 at a rent of approximately £60 ($86) per sf. The remainder is let to National Bank of Nigeria.

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