StockMarketWire.com - Real Estate company Derwent London said it had acquired the outstanding 7-year headlease interest in Bush House, South West Wing WC2 for £13.5 million gross.

The group already owned the freehold of this 103,700 square foot office building facing the Strand.

'It is being acquired with vacant possession. Combining this purchase and the December 2020 valuation of the group's freehold interest equates to £51.8m or c.£500 per sq ft,' the company said.

'We have appointed architects Stiff & Trevillion on the refurbishment and extension of the existing building which, subject to planning, could increase the lettable area to c.130,000 sq ft with a possible start in 2022,' it added.




Story provided by StockMarketWire.com