Hanover Green have just completed the investment sale of Suncourt House in the Angel, Islington, N1 for over £17 million.
Suncourt House, 18-26 Essex Road has been sold to DTZIM on behalf of Derwent London for £17.5 million. This comprised a refurbished multi let office building over two restaurant / bar units. The building was originally constructed as a Bicycle factory and refurbished in the unique Derwent London way to provide excellent comtempory office accommodation.
The purchase showed a net initial yield of c 4.0% with a reversion to over 5.5% on on ERV on this 26,824 sq ft freehold building.