Delancey in London office interior purchase

Office design news from Morgan Lovell

Published on 11-11-2009

Fund manager Delancey has announced the purchase of a 50 per cent stake in London's Royal Mint Court.

In total, Royal Mint Court offers 460,000 sq ft of modern office design space and is set on a 5.5-acre plot near the Tower of London.

The company is believed to have paid approximately £51 million for the office interior space, which entitles it to half of the annual £16 million rental income of the property.

At present, the modern office design space at the premises is let to Barclays and Old Mutual for a further four and a half years.

Elsewhere in the capital, the National Pension Service Central London Property Limited Partnership fund has invested in two office interior buildings - 88 Wood Street in the City of London and a 50 per cent stake in 40 Grosvenor Place in Victoria.

The fund paid approximately £368 million for the two properties, which offer 247,000 sq ft of modern office design space and are presently held on a multi-let basis.