DEGI EUROPA sells London office for €77 million (UK)

Aberdeen Immobilien Kapitalanlagegesellschaft mbH has sold its King William Street office in London to the Scottish Widows SWIP Property Trust for approximately €77 million. The property was owned by the DEGI EUROPA open-ended property fund. The sales price negotiated for the property matched the most recently appraised market value.


The property (not pictured) has a gross lettable area of 12,559 m².

The sale of this property, which was acquired in 1996, will help to raise the liquidity ratio for DEGI EUROPA. This is DEGI EUROPA's second portfolio property sale this year, having sold another London office property on Finsbury Square in early April 2010. Additional properties have been earmarked for sale with the objective to generate sufficient liquidity to lift the suspension of fund share redemptions.

The property on King William Street in London has a gross lettable area of 12,559 m².

King Sturge International Property Consultants acted as broker on behalf of Aberdeen.

Source: Maitland

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