Soho office

London office building sold for £73.2m



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UK Commercial Property REIT Limited (UKCM) has completed the off-market sale of 15 Great Marlborough Street for £73.2m.

The 49,094 sq ft freehold office building was acquired by Royal London Asset Management.

The building is arranged over nine floors and includes 10,094 sq ft of retail accommodation on the ground and lower-ground floors.

It is 100% occupied with the office space let entirely to Sony Interactive Entertainment, while the retail space is occupied by Costa Limited and Fitness First.

UKCM is managed and advised by Aberdeen Standard Investments and owns a diversified portfolio of UK commercial property.

It was advised on the transaction by JLL, while Royal London was represented by CBRE.

"Having completed a number of asset management initiatives during our ownership, our decision to sell at this point in time crystallises significant value for our shareholders,” said Will Fulton, lead manager of UKCM at Aberdeen Standard Investments.

“This sale is in line with our strategy to grow earnings by transferring capital to higher-yielding stock with sustainable income streams with growth potential."

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