LaSalle Investment Management has made an office purchase in Croydon.
LIM has bought Sunley House, a 112,000 sq ft office building arranged over basement, ground, through to 10 ten upper floors.
Current tenants include: Zurich, Oakham, Mercer, AECOM and Prospect Services.
Sunley House was extensively refurbished in 2007 and in 2012.
The vendor was Wainbridge and the sale price was in the region of £26m. This would equate to a net initial yield of 7%.
LaSalle Investment Management was represented by JLL.
CBRE acted for Wainbridge.