The property – located opposite the Floral Court development at the western end of Floral Street – generates an annual rental income of £3.4m across 42,600 sq ft.
The scheme derives 60% of its income from its 18,500 sq ft of retail space, with the remainder let as offices.
- £100m retirement home portfolio acquired
- Prime Sheffield office building acquired for £6.85m
- £30m Bristol office development acquired
Michelle McGrath, director at Capco Covent Garden, said: “The purchase of this property is in line with Capco's strategy of acquiring prime assets at Covent Garden that offer the opportunity to create value.
“This acquisition expands our footprint in the area and further consolidates our presence on Floral Street, where recent signings include Kent & Curwen and The Shop at Bluebird."
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