December 2007

DDPP buy West End office block

A new fund raised by Draco with Irish Stockbroker Davy has bought the 52,592 sq ft Berkshire House office block in London's West End for £34m from Invista Real Estate Investment Management. This was the first investment by Draco Davy Property Partners and the price reflects a 5.75% net initial yield and is £1.5m below the asking price. Savills advised the buyers; Jones Lang LaSalle acted for Invista.

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