Content area
Full Text
Beltane Asset Management and Angelo Gordon have sold a City office development for more than five times the amount they paid just 18 months ago. Reinsurer SCOR has paid around £21 m for Asia House at 31-33 Lime Street, EC3. The vendors bought the building from Land Securities in March 2013 for £3.9m and got planning permission for a refurbishment and two-storey extension, taking the total floor space to 19,500 sq ft. SCOR will use the building for its own occupation. Work is expected to complete in November. Gryphon Property Partners and Gerald Eve advised the vendors; Savills acted for SCOR.