TH Real Estate, on behalf of the Cityhold Office Partnership, has sold the freehold of The Peak in Victoria, London for €171.8m (£145m), representing a net initial yield of 4.27%. The prime office was acquired by a private Middle Eastern investor in an off-market transaction.
The landmark building, comprising c.9,290m² of Grade-A office and retail accommodation, occupies a highly prominent position opposite Victoria train station. Originally developed to an award-winning design in 2009, the building is multi-let to tenants including, Bank of Scotland, PetroChina and Guggenheim Capital.
CBRE and Taylor Wessing acted for the purchaser. JLL and Eversheds acted for TH Real Estate.
