Derwent London is pleased to announce the exchange of contracts to sell the freehold of Premier House, 10 Greycoat Place, Victoria SW1 for £50.0m before costs. The 60,700 sq ft office was entirely let to IWG on a lease which expired on 1 March 2019. The disposal price is c.10% above December 2018 book value.
"The disposal of Premier House will secure a significant premium above December 2018 book value. The proceeds from this sale will be recycled into our substantial on-site development pipeline.”
David Silverman, Investment Director at Derwent London