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| Land Securities enters into a JV with Frogmore Land Securities, Britain's largest real estate firm, announces that it has completed a 50% sale of its holdings at the corner of Oxford Street and Tottenham Court Road to Frogmore Real Estate Partners L.P. for £105m and entered into a joint venture on the holdings. The holdings comprise retail units from 2/4, 12/42 and 46/50 Oxford Street, and 5/17 Tottenham Court Road. They were built up over a number of years by individual purchases and now comprise 84,400 sq ft (7,840 sq m) retail space and 145,000 sq ft (13,470 sq m) office and ancillary accommodation. The block includes the Virgin Megastore and generates a current rental income of about £9.0m per annum. write your comments about the article :: © 2007 Construction News :: home page |