Trinova Real Estate sells 20 Red Lion Street on behalf of Stena Realty to Mayfair Capital

On behalf of Stena Realty, Trinova have sold the long leasehold interest in 20 Red Lion Street, London WC1 to Mayfair Capital Commercial Property Trust. The property is leased to two tenants until 2017, and offers multiple repositioning options.

Edmund Costello, Partner at Trinova Real Estate commented:

“We acquired 20 Red Lion Street for Stena Realty at a time when a significant yield discount was being applied to long leasehold assets, which we saw as a temporary phenomenon. With a long term ownership strategy, it was the clear intention to reposition the property and income profile in 2017 as part of a longer term business plan, which was something we were actively working towards. However when presented with a very attractive offer from a highly credible buyer, which created the opportunity to realise a strong investment return for our client, it made sense for Stena Realty to exit with the objective of reinvesting into the market in due course”.

Ronald Visscher, Managing Director of Stena Realty commented:

For Stena it was the earlier possibility to achieve similar returns over a shorter period than expected at acquisition, due to the rapidly improving market and investment sentiment in London. We are happy to have secured the future potential in this transaction with the assistance of Trinova.