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http://www.propertyweek.com/news/offices/lg-to-sell-%C2%A334m-city-office/5084096.article

14/07/2016

Legal & General has brought to market a City of London office building with a price tag of £34m and a yield of 4.75%.

Garden House Legal General

Garden House is in the Broadgate area - Source: Google/Creative Commons

The fund has appointed agents at JLL to sell Garden House, which located on 11-13 and 19 Throgmorton Avenue and 21 Austin Friars.

It is understood the sale of the building, which sits in the PAIF fund, was always planned and not related to the Brexit vote.

L&G bought the property, which is let to Deutsche Bank with a passing rent of £1.77m a year, in 2012 from Irish investor Jaguar Capital for £22m.

Garden House, which is located in the Broadgate area, has an ornate stone facade and comprises 43,382 sq ft over basement, ground and six upper floors.



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