Property News - Henderson's city buy

Henderson Global Investors' UK Property Fund has paid Barclays£3.6 million for the long leasehold interest in 65-75 King Street, Hammersmith, west London. The property comprises a banking hall and offices leased back to Barclays Bank for 96 years, together with four retail units let to Stead & Simpson, Reed Solutions, Sweet Ventures and Winding Trading. The price reflects a net initial yield of 6.9 per cent, with an equivalent yield of 7.5 per cent. Churston Heard advised Henderson.