Kensington block sold for £40m

Mountgrange Real Estate Opportunity Fund said yesterday it has sold the Warwick Building in Kensington to fund manager Cordea Savills for £40m. The building forms part of the Kensington Village office campus and is let to Publicis Groupe, which is working on a merger with Omnicom. Cordea said the building was well placed to exploit a squeeze in office supply and an increasingly unaffordable West End market.