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Deramore acquires new London property
Deramore acquires new London property
The Northern Ireland based development company, Deramore Property Group, has announced that it has purchased a freehold of St John's Road in London for £25.5 million, reports Property Mall.
With the property being situated in two adjacent parades it covers 35,606 sq ft, mostly of office space but also comprising residential accommodation.
Currently there are 16 different tenants in the building including Ottakars, Woolwich and New Look and it generates a yearly rental income of £1,086,490.
Strutt and Parker advised Deramore with the deal and Scott Mitchell, from its retail high street investment team, said that the property was a good acquisition in an area which is seeing good economic growth.
"This is a great investment opportunity that is extremely well positioned within the retail thoroughfare of Clapham Junction, in what has rapidly become one of the most up-and-coming, affluent areas in London," he said.
Deramore was founded in 1974 and specialises in development and investment.
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