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Aberdeen Standard fund sells London office building for more than £80M

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Aberdeen Standard fund sells London office building for more than £80M

Aberdeen Standard Investments Ltd.'s Aberdeen Life UK Property Fund divested the 60 Charlotte St. office property in London's West End district to Westbrook Partners LLC for a little over £80 million, Property Week reported.

The asset contains 39,003 square feet of office space that is fully let to eight tenants, including the British Olympic Authority and Lionsgate Films. The building also features a 5,049-square-foot ground-floor restaurant unit, the March 21 report added.

The eight-floor property was refurbished in 2008 for £12 million and sold in 2010 for about £32 million to Scottish Widows Investment Partnership, which merged with Aberdeen Standard in 2014.

Additionally, the Aberdeen fund is selling the freehold of a restaurant block at 82-84 St Martin's Lane in Covent Garden, London, through JLL for a price tag of £37 million, the publication added.

The property is leased to British restaurant chain Browns until 2021.

Knight Frank advised Aberdeen Standard on the sale of the Charlotte Street office building, while Westbrook Partners was represented by Colliers.