Capital & Counties, a wholly-owned subsidiary of Liberty International (LBT), has disposed of its interest in the 275,000 square feet King's Reach complex on London's Southbank.

The property has been sold for 80 million sterling, a price in excess of the most recent year end valuation.

Capital & Counties acquired the complex in 2002 and subsequently obtained planning consent for a new development of circa 400,000 square feet. The lease held by the principal tenant, IPC Magazines, is due to expire next year.

I-Net Bridge
 
Publisher: I-Net Bridge
Source: I-Net Bridge