King Sturge has announced its latest deals in Belgium and the United Kingdom. In Belgium, King Sturge has sold two warehouses in Essen on behalf of DHL, and in London King Sturge has sold an office building on behalf of UBS Global Asset Management.
On behalf of DHL Solutions Belgium, King Sturge has sold a 22,000-m² warehouse located in Essen, Belgium, to Immo Sany (Sany Logistics) in a transaction valued at 2.120 million (£ 1.992 mln.). Essen is situated near the border between Belgium and the Netherlands.
In addition, a 4,500-m² warehouse with 900 m² of office accommodation in Herentals, Belgium, was sold on behalf of DHL Freight to Herentals Logistics (Group Vandijck). Hententals is situated to the east of Antwerp and the transaction was valued at 2.050 million (£ 1.926 million).
Acting on behalf of UBS Global Asset Management, the City of London office of King Sturge has sold No.11 Pilgrim Street (EC4) to Pramerica for £52 million (55.5 mln.) reflecting a net initial yield of 7.50%. The building provides approximately 10,000 m² of office space is multi-let to three tenants on a weighted unexpired term of 12 years.
Source: King Sturge