Midtown offices of Warner Bros Entertainment sold for £65m
The Midtown offices of Warner Bros Entertainment at 98 Theobalds Road, WC1, have been acquired by the West End of London Property Unit Trust.

It made the commercial property investment for £65 million after acquiring the building from Crescent Heights.

Land Securities sold the premises to Crescent Heights in 2009 for £43 million.

More than 130,000 sq ft in size, the Midtown offices were initially leased to Warner Bros Entertainment with an annual rent of £3,895,000.

Acquisitions director at US-based Crescent Heights Eric Hopkins was reported by PropertyEU as saying: "This disposal has enabled us to extract significant value from our investment and marks the successful conclusion of our first acquisition in the London office market."

Another recent Midtown deal was struck between seller Consolidated Real Estate Management Services and buyers GI Partners and Rowan Asset Management.

Aldwych House - which contains 163,000 sq ft of offices and is let to 11 tenants - was sold for £82.7 million.

Posted by Emma


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