City office interior investment announced

Office design news from Morgan Lovell

Published on 08-01-2010

HIH Global Investment has announced an investment in Degi's 100 New Bridge Street in the City of London.

The organisation is being advised by property agent King Sturge and is hoping for a yield of between six and 6.25 per cent per annum from the modern office design space.

HIH also recently invested £42.6 million at Friar Court in the City, where the business is hoping for a return of 6.95 per cent per year.

Degi is presently considering the deal and is being advised by Gresham Down Capital Partners and while negotiations appear well advanced, there is a chance the deal could yet falter.

Elsewhere in London, Bedford Estates and fund manager Threadneedle recently completed a swap of their office space on Tottenham Court Road.

The pair traded premises at 257/258 Tottenham Court Road and 1 Bedford Avenue for a 150-year geared lease over the combined interests at furniture store Heal's.

Posted by Paul Kelly.