London & Stamford makes City swoop

City A.M. Reporter
REAL estate investment trust (REIT) London & Stamford Property yesterday agreed to buy One Carter Lane and Two Old Change Court for £75m, to take advantage of constrained office supply in one of the main financial districts.

The two properties, which form one office complex near St Paul’s have a current net income of £5.814m per annum, 97 per cent of which is from Goldman Sachs International expiring in 2018. The Goldman lease has a tenant break clause in March 2013.

Raymond Mould, chairman of London & Stamford Property, said: “Central London continues to show signs of economic growth and we are delighted to have acquired this prime, City of London property.”