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Quadrum Global selling House of Commons office in London for £88.9M

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Quadrum Global selling House of Commons office in London for £88.9M

Private equity investment group Quadrum Global listed the 21 Dartmouth St. building in London for sale for £88.9 million, weeks after leasing the entire office space in the property to the House of Commons for 20 years, Property Week reported.

The price, which is more than double the £43 million that Quadrum paid for the building in 2014, reflects a net initial yield of 3.75%.

The company finished the redevelopment of the 53,000-square-foot building in January, the March 20 report added.

Property investment adviser Michael Elliot was appointed to divest the asset.