CBRE Global Investors sells midtown investment

CBRE Global Investors has sold the freehold interest in 71 Kingsway, WC2, to a North American private investor for £31.65m – a 4.83% yield. Colliers International was appointed to market the 30,052 sq ft asset for offers in excess of £30.5m last year. The property comprises offices, retail and a restaurant, with a weighted average unexpired lease term of 4.62 years to expiry (3.41 years to break). It is let to 11 tenants, generating £1.63m per annum. Belgo and Cards Galore make up the ground floor units. Hartnell Taylor Cook LLP acted for the purchaser and Colliers International acted for the vendor. • To send feedback, e-mail shekha.vyas@estatesgazette.com or tweet @ShekhaV or @estatesgazette