Exit Date: April 2009
Total Profit: $10,706,000
This single tenant bank building was purchased in the emerging, east side of London market. In 2007 tenant indicated non-renewal of lease, allowing us to market the space at a 30% increase. The property was marketed for sale and sold at a record price.
Tenant: Abbey National plc (Bank)
Tenant Lease Terms: 25 year lease until December 2010.