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Property group sells Grade A office building in Covent Garden for £16m

Property group sells Grade A office building in Covent Garden for £16m

Kean House, an office building in Covent Garden containing 26,000 sq ft of prime Grade A office space, has been sold by freeholder Terrace Hill Group for a reported sum of £16 million.

The sale follows a recent lease renewal of the fifth floor, by e-commerce company Channel Advisor, who have re-let their office space in the property for a further five years.

The office and retail space is spread over a basement and nine upper storeys. Other tenants include Costa Coffee and Adecco, who both lease retail space at the Covent Garden building.

Terrace Hill Chief Executive, Philip Leech, said:

“This sale demonstrates that there is strong demand in the market for good quality, well-managed assets particularly central London offices. The disposal will allow us to recycle the capital into profitable new projects, further enhancing our shareholder’s capital invested in our business.”

For more details of office space to rent in Covent Garden, search online at officebroker.com.

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Author: | December 1, 2009 | 0 Comments

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