Quintain sells Oxford Street block for

The Great Victoria Partnership, a joint venture between Great Portland Estates and Liverpool Victoria Friendly Society, has bought the Mount Royal Block at 508-540 Oxford Street from Quintain for a total of £80m.

The property generates a net income of £3.7m per annum, and has been sold at its last reported book value. The deal represents an initial yield of just over 4.6%.

Quintain Chief Operating Officer, James Hamilton Stubber, commented: “The sale of the Mount Royal interest follows our strategy of reconfiguring our core portfolio in order to reinvest in assets with higher income returns, complementing the activity within out Special Projects business.”

Source: Freeman

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