January 11, 2001
Sutherland House, 5-6 Argyll Street, London W1
Clerical Medical Group have sold their Freehold interest in the above investment for £8.05M to The Trustees of The Manny Davidson Trust. The building, let to 7 tenants, comprises 1,069 sq m (11,500 sq ft) of offices and 399 sq m (4,290 sq ft) bar/restaurant. The transaction reflects a net initial yield of circa 5.40%.
Godfrey Vaughan acted for Clerical Medical, and FPD Savills acted for the purchaser.