PropertyEU

Ropemaker buys office in London at 8.75% yield

By A staff reporter 2009-06-16T00:00:00

Ropemaker Properties, the property holding company of BP Pension Fund, has acquired 200 Hammersmith Road, London from BlackRock's UK property fund for £24.55 mln (EUR 29 mln). CB Richard Ellis, which acted for Ropemaker, said the transaction volume reflected an initial yield of 8.75%.

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