On March 17, 2006, Wereldhave completed the sale of an office building of 21,814 m² in Warwick, near Birmingham, UK. The proceeds of the sale amount to £40.2 mln, which is £5 mln above the book value at December 31, 2005.
The office building was sold to the tenant, the British company National Grid. Wereldhave has decided to sell the property to realise the capital gain resulting from the strong increase in value of the property, taking into consideration the short remaining term of the lease and the modest perspective on further increases in value.
Source: Wereldhave
