Jamie Ritblat’s Delancey has bought half of the Royal Mint Court office complex in the City for £51 million.
They bought the Crown Estate’s half share of the 
office space at the 5.5 acre site, near the Tower of London last week. Irish investors Tom Quinn and Donal O’Mahoney bought the other half of the building for £95 million in 2002 and were rumoured to be interested in owning the whole asset. The property is currently leased to Barclay’s Bank and Old Mutual for another 4 and a half years. It provides a total annual rental income of £16 million and Delancey will now be entitled to half that. Delancey’s offer represents a 15% yield. (more…)
