Wed, 27 Apr 2011 | COMMERCIAL PROPERTY
The sale of the Aviva Tower in London has entered its final stages, with contracts exchanged for the transaction.
The tower, which is located at 1 Undershaft in London, formed part of Simon Halabi's Protractor portfolio, which has been sold off in stages following its administration two years ago. The tower is the last of the nine major commercial premises contained within the portfolio to be sold off, with receivers Ernst & Young agreeing the sale.
Six of the other eight major property assets have been acquired by Carlyle Group, Property Week reports. The group purchased IBM's commercial offices located on the Southbank, as well as the offices belonging to JP Morgan Chase, located at Alban Gate on London Wall and on Victoria Embankment.
When the Aviva Tower – which contains 315,254 sq ft of city office space - was first put onto the market, it had an asking price of £284 million, according to Property Week. It is leased to Aviva until 2024, in a deal which brings in £16.5 million in rental income each year.
The tower has reportedly been sold for £288.5 million, reflecting a net initial yield of 5.4 per cent, and the sale is due to complete in July this year.
Established in 1994, these three handsomely presented and fully-equipped unisex hair salons are located in a prominent trading location.
Established vehicle display is located in a Berkshire prominent main toad. The business boats an excellent reputation and customer base.
LEASEHOLD
Established 2019, this logistics company can be managed from anywhere. The business comes with reliable executives already in place.
19
|
Apr
|
US firm acquires Somerset employee management provider | BUSINESS SALE
An employee management services firm based in Somerset has b...
18
|
Apr
|
Education specialist makes second LDC-backed acquisition | BUSINESS SALE
Hybrid, an education media and marketing services firm, has ...
18
|
Apr
|
Administrators appointed to SPV behind £24m Bolton redevelopment | ADMINISTRATION
A special purpose vehicle (SPV) behind a £24 million r...
12
|
Aug
|
Aviva to complete Succession acquisition and support further consolidation | BUSINESS SALE
Aviva is poised to complete its acquisition of wealth manage...
03
|
Mar
|
Aviva acquires Succession Wealth at 7.1x revenue | BUSINESS SALE
Aviva has acquired independent financial adviser (IFA) Succe...
08
|
Oct
|
2018: Top Track 250 | BUSINESS NEWS
It's often difficult for businesses to achieve growth o...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.