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Land Securities sells 1 & 2 New Ludgate to Sun Venture for £552m
StockMarketWire.com
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Real Estate developer Land Securities said it had exchanged contracts to sell 1 & 2 New Ludgate to Sun Venture for £552m.
Completion of the deal was expected to take place by the end of December.
Occupying a 1.5 acre site next to the Old Bailey with views of St Paul's Cathedral, 1 & 2 New Ludgate provided a combined 389,615 sq ft of office and retail accommodation developed by Landsec in 2015.
The proceeds would initially be used to pay down debt before being reinvested into growth opportunities over time, the company said.
Story provided by StockMarketWire.com
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