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Columbia Threadneedle sells £89M London asset to local council

London's Southwark Council acquired the Courage Yard from asset manager Columbia Threadneedle after the mixed-use asset was placed on the market in September 2018 for £89 million, at a yield of 5%, Property Week reported.

The seven-building complex at Shad Thames in London was recently refurbished and offers 67,900 square feet of office space, 17,900 square feet of retail area, as well as 160 apartments.

The office space at the 2.2-acre site was pre-leased to Zoopla Property Group until 2031.

JLL handled the sale on behalf of the seller, the Jan. 3 report added.