LONDON (Alliance News) - Property developer Helical Bar PLC on Friday said affiliates of it and Crosstree Real Estate Partners have sold Empire House in Old Street in east London to the Standard Life Investments Long Lease Fund.
The pair have sold the property, part of The Bower development, for GBP20.7 million. It is currently fully-let to Z Hotels and Ceviche, a Peruvian restaurant.
"The sale of Empire House was a logical move as it is a self-contained asset within The Bower development and is now fully let and performing well," said Gerald Kaye, development director at Helical Bar.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Helical Bar (HLCL)