16. Februar 2012 
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SEPUT surfs into Tech City
The Schroder Exempt Property Unit Trust (SEPUT) has completed the purchase of St Matthews and St Marks House, Shepherdess Walk, London N1. The property is located in the heart of Silicon Roundabout, London's new technology centre. The building comprises 85,000 sq ft of 1990s office accommodation let at an average rent of approximately £20 pound per square foot. The largest tenant is Sungard Availability Services. The purchase price of £18.5 million reflected a net initial yield of 9.5%.
James Lass, Head of Business Space Investment at Schroders, said:
“The transaction is almost a pound for pound switch from old City to new. SEPUT sold a site in Mark Lane EC3, in the centre of the insurance district at the end of last year for a similar capital value. The difference is we now hold an asset at the same capital value pound per square foot to the Mark Lane site value but with buildings in place yielding 9.5% in an exciting location primed for further growth. We remain active in the market with further capital to invest at a point in the cycle where we are experiencing an increase in interesting investment opportunities.”
James Lass, Head of Business Space Investment at Schroders, said:
“The transaction is almost a pound for pound switch from old City to new. SEPUT sold a site in Mark Lane EC3, in the centre of the insurance district at the end of last year for a similar capital value. The difference is we now hold an asset at the same capital value pound per square foot to the Mark Lane site value but with buildings in place yielding 9.5% in an exciting location primed for further growth. We remain active in the market with further capital to invest at a point in the cycle where we are experiencing an increase in interesting investment opportunities.”
