19-storey London office building bought by private Mideastern buyer for $76m

February 19, 2014 10:54 am

UK-based chartered surveyors, Hanover Green has announced a private client from the Middle East has purchased the Quadrant House, one of the biggest buildings in Sutton, Greater London, for £45.3m, the Guardian has reported. Built in 1980, the 19-storey, 200,400 sq ft office building comprises two inter-connecting offices towers, let to Reed Business Information (RBI) on a lease expiring in June 2024. “Quadrant House provides a secure long-term investment at a low capital value of just £230 per sq ft in a London suburb,” said Jonathan Webb of Hanover Green. “It’s a private investor who’s bought it from another private investor.”