Quintain sells GreEnwich property for £97m

City A.M. Reporter
QUINTAIN Estates and Development has sold Pier Walk in its Greenwich Peninsula development near Canary Wharf to a unit of Germany's largest fund manager DekaBank.

Deka Immobilien GmbH paid £97.1m in cash for the property, representing a six per cent uplift on the last independent valuation on 31 March and an investment yield of 5.9 per cent.

The seven-storey building consists of two blocks of office accommodation linked by a central atrium, with shops on the ground floor.

Transport for London occupies 198,000 square foot building.