A fund managed by Aberdeen Standard Investments has sold an office and retail property in London for 拢70.8m (鈧�81.1m).
The Standard Life Pooled Property Pension Fund has sold its long leasehold interest in 60 Gresham Street, an office and retail property in the City of London, to an undisclosed buyer.
The asset was acquired in 2012 for 拢47.3m.
David Stewart, the fund manager, said: 鈥淭his deal fits with our strategy to dispose of assets where we have realised our business plan objectives.
鈥淭he proceeds are being recycled into our redevelopment of the Farmiloe Building in Farringdon, an exciting restoration / new build project which will complete in the third quarter of 2019, shortly after the opening of Crossrail.鈥�
The 60,916sqft building is multi-let.
