Commercial Property News

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Tuesday, February 20, 2024

Forsters buys £10.45m city property for A&A; Investments

Forsters' property and corporate teams have acted for US firm A&A; Investments on the £10.45m acquisition of 14 Lovat Lane, London EC3, through the purchase of shares in Chelton Ltd.

14 Lovat Lane comprises approximately 18,450 ft² of air-conditioned office accommodation arranged over basement, ground and four upper floors. The building is let in its entirety to JLT Risk Solutions Ltd until March 2010 at an annual rent of £760,000. The purchase price reflects a net initial yield of circa 7.0%.

Forsters property partner Sophie Hamilton led the team, supported by corporate partner Craig Eadie who was assisted by Victoria Holland and Kully Bains. Kaz Stepien of Stepien Lake acted for the seller.