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Quintain sheds London asset for £48M

Quintain Ltd. sold the Aldermary House building at 10-15 Queen St. in the City of London to Saïd Holdings for £48 million, reflecting a net initial yield of 6.5%, Property Week reported.

The mixed-use property, which houses 15 office and five retail tenants, spans 63,631 square feet of space over basement, ground and eight upper floors, according to the Feb. 26 report.

Quintain bought all the units in Aldermary House Unit Trust, which owns the leasehold interest in the 10-story Aldermary House, in May 2014 from AFH Investment LP for £40 million in cash.