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Benchmark Buys in Westminster

LONDON-Central London specialist Benchmark has bought Trevelyan House, 30 Great Peter Street, London SW1 from the Scandinavian investor KP Fund.

By Graham Parker | Updated on June 17, 2002

LONDON-Benchmark has added to its substantial central London portfolio with the £30 million ($44 million) purchase of Trevelyan House, 30 Great Peter Street, London SW1 from the Danish fund manager KP Fund.

Trevelyan House is located at the junction with Marsham Street, where the new Home Office is under construction. Constructed in 1985, it provides 60,000 sf of office space on eight floors. It is let to the UK government for 25.5 years from December 1985, and the June 2001 rent review was agreed at £2.415 million ($3.5 million) or £40.50 ($60) per sf per annum. Three government bodies occupy the building: The Office for Government Commerce, The Electoral Commission and the Health Development Agency.

The vendor has held the building since 1998. KP Fund is one of the largest property investors in Scandinavia, managing a life assurance fund and the pension fund for the municipal workers of Denmark.

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