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UBS sells London office property for £59m
Transactions - SEPTEMBER 3, 2019

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UBS sells London office property for £59m

by Kali Persall

The Real Estate & Private Markets (REPM) business of Zurich-based UBS Asset Management (UBS-AM) has sold 99 Clifton St. in London’s Shoreditch to a private overseas investor for £59 million ($71 million).

TT&G Partners advised Triton on the sale of the office property, while Savills represented the buyer.

The disposal was completed on behalf of the REPM’s Triton Property Fund, which acquired the 45,255-square-foot property off-market for £38.25 million ($46.27 million) in 2015 when it was still under construction.

The fund secured a global media firm as the sole tenant for the seven-story building through a pre-let process, according to UBS. The lease had a lifespan of 15 years.

“Following four years of strong performance, the property has more than delivered its business plan,” said Jonathan Hollick, Triton’s portfolio manager, in a statement. “Accordingly, we made the decision to crystallize the value it generated for our clients a

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