Blackrock UK Property Fund has exchanged contracts to sell 5 Strand on Trafalgar Square in London to a private Indian developer for over €91.4m (£80m), following strong competition from international purchasers.
The freehold 72,359 ft² NIA office and retail property is fully let to Westminster City Council and Boots Plc, and benefits from a planning consent for a 152,400 ft² GIA office, residential and retail development designed by Adjaye Associates.
The property is a freehold site next to an internationally recognised London landmark with a range of repositioning and redevelopment options. The buyer was advised by Savills and Fladgate.
