The UK arm of GE Real Estate has acquired two office properties in London for about £25.1 mln (EUR 37 mln. Commercial Property News reported that GE Real Estate bought 4 Tenterton Street, near Hanover Square in the West End, for £17.6 mln from Scotts Ltd. and 16-18 New Bridge Street in the City for £7.5 mln from Redab Properties. Both office buildings, vacant by year's end, will be substantially refurbished.
The UK arm of GE Real Estate has acquired two office properties in London for about £25.1 mln (EUR 37 mln. Commercial Property News reported that GE Real Estate bought 4 Tenterton Street, near Hanover Square in the West End, for £17.6 mln from Scotts Ltd. and 16-18 New Bridge Street in the City for £7.5 mln from Redab Properties. Both office buildings, vacant by year's end, will be substantially refurbished.
'We're very positive on London in general and the West End in particular,' Mike Rowan, managing director of GE Real Estate UK, told CPN. 'There is good absorption and little office supply coming online. In the City, rental growth is attractive.'
