Aberdeen Standard Investments has sold the freehold of 48-50 St John Street, Farringdon, EC1, on behalf of Courts Nominees to investor Patrizia for £17m.
The 19,500 sq ft office building is multi-let to four tenants, producing an annual income of just under £890,000. The deal reflects a net initial yield of 4.9%.
Newly established City Fringe agency Compton acted on behalf of ASI. Compton founder Michael Raibin said: “The sale of this high-profile investment confirms the demand for properties in this vibrant City Fringe market.”
