Haslemere NV announced today that it has completed the disposal of Kinnaird House, 1 Pall Mall East, London SW1 to Villatree Ltd for a consideration of GBP 37.4 million
Kinnaird House (a Crown Estate freehold) comprises approximately 929 mÃÂ² (10,000 sq ft) restaurant space as well as 5,576 mÃÂ² (60,000 sq ft) office space on the remaining eight floors. The tenant for the majority of the office space is McKinsey & Co Inc UK.
Richard Debney, Director of Haslemere NV, said:
Ã¢â¬ÅKinnaird House is not an asset we had planned to sell. This disposal is the result of a direct approach, and is at a price which we regard as attractive to our shareholders relative to the prospects for further short term growth in value. Kinnaird House has been a very successful development for Haslemere.Ã¢â¬Â
Source: Haslemere NV