M&G Real Estate has sold the freehold interest in 36 Queen Street in the City of London to Spanish real estate group Grupo Metropolis for £44 million.
The 46,000-square-foot office between Mansion House and Cannon Street underground stations was comprehensively refurbished and part-developed in 2014 to provide a Grade A specification office building. It is leased to Gray's Inn Tax Chambers, Veracode, bFinance UK and United Bank for Africa.
The investment manager acquired the 1980s building in 2018 for £55 million reflecting a net initial yield of 4% from Hong Kong investor Lai Sun group.
JLL advised M&G on the deal.