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St Matthew’s House, Shepherdess Walk, London, N1

  • Freehold.
  • Let to Guardian IT, subsequently taken over by Sungard Inc.
  • Gross Rent: £1.086 m per annum.
  • Total Area: 39,730 sq ft.
  • An opportunistic purchase, as part of a larger portfolio with an exposure to the Central London market.
  • Allocated purchase price of 10% NIY reflected a poor covenant. Once Sungard bought the tenant, we sold on the basis of a stronger covenant at a profit.
  • Purchased:     £10.40 m May 2002
  • Sold:    £11.1 m June 2004