May 2008

Draco digs Covent Garden

Mayfair-based investor Draco has bought Seven Dials Warehouse in London's Covent Garden for £56.55m.

The 60,000 sq ft mixed use block was sold by Schroders who had recently completed a major refurbishment scheme. Tenants inlcude travel firm Expedia, restaurant chain Belgo and clothes shop Urban Outfitters.

Draco bought the property for a £300m opportunity fund set up earlier this year. John Miles & Co acted for Draco; DTZ acted for Schroders.

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