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Terrace Hill sells Covent Garden development stake for 16m



27 November 2009 @ 09:26 am BST

Terrace Hill Group has sold its freehold interest in the Kean House development in Covent Garden to a UK institution for 16m, representing a net initial yield of 6.4%.

CEO Philip Leech said the sale showed strong demand for good quality, well-managed assets, particularly central London offices.

'The disposal will allow us to recycle the capital into profitable new projects.'

Story provided by Business Financial Newswire

© 2009 BFNNews.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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