SREI : Schroder Real Estate sells last of Wembley site
Schroder Real Estate has sold the last part of its site in Wembley with the disposal of the Olympic Office Centre for £15.4m. The sale price is £4.65m higher than the valuation attributed to the site at the end of June 2014 and equates to an initial yield of 6.7%
The 74,000 sq ft building sat alongside the other sites sold to Unite and Barratt Developments. Overall these properties fetched £38.3m which compares well to the £16.5m valuation attributed to them in June 2013 (before the planning consents were achieved). Schroder Real Estate paid £8.4m for the combined properties in 2004.