Building of former Docklands offices sold for £27m
A Docklands building which used to contain London offices, but has since been turned into a data centre, has been sold for £27 million.

Evans Randall snapped up Sovereign House at 227 Marsh Wall from AXA Real Estate on behalf of a holding company it is invested in, alongside Saudi Arabian private investors.

The E14 premises was originally built in 2001 to deliver London offices, but the tenant - a subsidiary of Telecity Group - turned it into a data centre.

Commenting on the deal, Evan Randall's chairman Michael Evans said: "The acquisition is further evidence of Evans Randall's commitment to London Docklands as a strategic investment location and gives us exposure to the rapidly expanding data centre sector."

He added Sovereign House offered value as a result of its use, its location and the fact it has been converted.

Last month, it was revealed talks were underway for the sale of a building of City offices that was bought by Evans Randall in 2010 for £242.5 million. It could offload the Drapers Garden premises for as much as £285 million.

Posted by John Evans

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