Harbor Group International has sold their long leasehold interest in 27 Austin Friars, EC2 in the City of London for £6.45M reflecting a NIY of 4.60%.
The private US group sold the asset to a Privately-owned Trust.
The 10,329 sqft property is single let to Cushman & Wakefield for a term of 14 years with a privity of contract to Credit Suisse.
The head lease has 107 years remaining and is geared to 5% of the rents receivable. The current gross rent is £330,000 per annum.
Neil Frais Kelly advised the purchaser; Knight Frank acted for the vendor.
