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Derwent Valley in $50M West End Sale

LONDON-Derwent Valley Holdings, the specialist Central London investor, has sold Harcourt House, a 59,750-sf freehold mixed-use building at 19/19a Cavendish Square, London, W1 to clients of LaSalle Investment Management for pounds 28.3 million ($52 million).

By Graham Parker | Updated on March 04, 2004

LONDON-Central London specialist Derwent Valley has raised £28.3 million ($52 million) with the sale of Harcourt House, 19/19a Cavendish Square, London, W1 to clients of LaSalle Investment Management.

The 59,750-sf property, which was acquired in 1998 for £14.5 million ($27 million), comprises two inter-connecting buildings divided into suites, and provides 35,075 sf of offices, 18,285 sf of medical consulting rooms and 6,390 sf of residential space. It is occupied by 24 tenants on leases of varying lengths producing a current income of £1.9 million ($3.5 million) per annum.

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