Degi sells City office to Meag for EUR 115m

Degi, part of Aberdeen Property Investors, has sold the 30 Finsbury Square office scheme in the City of London to German fund manager Munich Ergo Asset Management for £102 mln (EUR 115 mln), well-informed sources told PropertyEU. A spokesperson for Meag has confirmed the acquisition, which reflects a yield of 5.6%. JLL advised the seller. Müller International acted for Meag.

The 12,600-m² building is single let to Invesco UK for an annual rent of over £6 mln and was acquired by Degi in September 2003 and held in its Europa fund. The German investor put it on the market in January this year for a yield of 6%.

Also in the City, Degi is selling the 75 King William Street property for a price of over £66 mln to Scottish Widows Investment Partnership. The disposal is said to reflect a yield of 6.75%.

In February Degi, through its Degi International fund, also sold the Grade A property, 100 New Bridge Street to HIH Global Invest for £110 mln. Located in the western part of the City of London, 100 New Bridge Street comprises 15,540 m² of gross lettable space.