London-listed Great Portland Estates has announced it is acquiring four properties in the UK capital for a total of £45 mln (EUR 52 mln) from its joint venture with Capital & Counties Properties.
London-listed Great Portland Estates has announced it is acquiring four properties in the UK capital for a total of £45 mln (EUR 52 mln) from its joint venture with Capital & Counties Properties.
The Great Capital Partnership (GCP) joint venture is selling the assets as part of its refocus on its core West End holdings on Piccadilly, Regent Street and Park Crescent. Other non-core GCP properties may be sold in the medium term, Great Portland said. Capco, which is also listed in London, is being appointed as residential and retail strategy advisor to the joint venture.
The properties being sold are 24/25 Britton Street, EC1, 12/14 New Fetter Lane/43 Fetter Lane, EC4, Tasman House, Wells Street, W1 and 183/190 Tottenham Court Road, W1. Great Portland said the purchase price is broadly in line with September 2010 book values.
