Aviva zeroes in on Ealing Gateway

By Paul Norman - Thursday, September 07, 2017 11:00

Aviva Investors is set to buy the Ealing Gateway scheme in west London for £50.25m, seeing off competition from a number of institutional buyers, CoStar News understands.

The multi-let office building at 26-30 Uxbridge Road, which comprises 127,000 sq ft of offices over six floors, was brought to market earlier this year.

Investors including M&G Real Estate, Royal London Asset Management, Aviva Investors and Orchard Street Investment Management are all understood to have worked up bids for the offices.

Aviva is understood to have exchanged last night.

Tenants at the building, where average asking rents are £40 per sq ft, include British Market Research Bureau and Catalyst Housing.

The price of £50.25m is understood to equate to a 3.93% yield.

Kimmre is advising Aviva Investors. TH RE is unrepresented.

pnorman@costar.co.uk

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