Milton Gate
City of London
Chiswell Street, London
Prime office
£127m (7.5% yield)
£163m (6% yield)
Evans Randall Investors bought Milton Gate in the City of London in June 2009 for £127m, at a low point in the London office investment cycle and a time of historic low liquidity.

The acquisition of this seven-storey building, which is let in its entirety to law firm Addleshaw Goddard, effectively marked the bottom of the prime City office investment downturn and was acquired at a yield of 7.5%.

Our exit in June 2010, at a yield of 6%, provided equity investors with an IRR of 60%.