DELANCEY ACQUIRES MID CITY PLACE IN £215 MILLION TRANSACTION

Delancey announces that it has completed the acquisition of Mid City Place, High Holborn, London WC1 from High Holborn Estates for £215 million, reflecting a net initial yield of 6%.

Mid City Place, developed in 2002, provides 325,000 sq ft of prime offices and 25,000 sq ft retail situated in a prominent mid-town location. The building is multilet to a range of strong covenants at rents averaging £37 per sq ft. Current tenants include Davis Langdon, Westfield, EDF and Towers Perrin. Retail tenants include Sainsburys and the Halifax bank.

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