Warner Estate buys two London office buildings for £47m

UK property firm Warner Estate said it had bought 2 America Square, EC3 and 16 Upper Woburn Place, WC1, for a total of £47 mln (EUR 68 mln). The company said it bought 2 America Square for £25 mln, reflecting a net initial yield of 5.91%, from London and Regional Holdings Ltd. The 46,481 sq ft office building is multi-let.

Warner said it also bought the multi-let, 40,363 sq ft, 16 Upper Woburn Place from Investstream for £21.75 mln, reflecting a net initial yield of 5.03%. Michael Stevens, Property Director at Warner Estate said: ‘We are delighted to add to our office holdings in London, particularly in the West End, and continue to seek further such investments’.