Terrace Hill Sells UK Office Scheme
Terrace Hill Group Plc has agreed to sell an office property in London to Cordea Savills European Commercial Fund for £53.5 million (e64.3 million). The 6,300-square-metre property at 129 Wilton Road, Victoria, was completed by Terrace Hill in 2008. The building is fully let, comprising 6,090 square metres of office space and 210 square metres of ground-floor retail space let to Prêt à Manger. Office tenants include E.On Ruhrgas UK E&P Ltd and IQPC Ltd, and the building’s total rent is approximately £3.28 million (e2.9 million) per year.