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Nabarro advises on £96.75 million Telstar House sale for Henderson Global Investors

12 January 2011

Nabarro has advised on the sale of prime London office site, Telstar House, for £96.75 million by Henderson Global Investors. This represents a strong return for Nabarro client Henderson with a net initial yield of 5.1%.

The property, which is let to Rio Tinto European Holdings Ltd, has been sold to a privately held company in Jersey and highlights the ongoing recovery of the London prime office real estate market.

The Nabarro team led by real estate partner Rhodri Pazzi-Axworthy drew on the firm's range of corporate, financial and property expertise and included: Venn King (Fund & Indirect Real Estate) and Nick Burt (Tax).

Rhodri Pazzi-Axworthy, partner at Nabarro, said:

"We're delighted to have been able to support long-standing client Henderson on this important transaction. Strong returns from the sale underline the resurgence of this type of prime office site in central London."

Andrew Creighton, director at Henderson Global Investors, said:

"This transaction represents a key part of our investment strategy and is consistent with our wider business plan. The proceeds from the sale will be reinvested within the UK market, where we remain confident on the outlook for the year ahead."

For further information please contact:

Alex Bellinger
PR & E-Communications Manager
Nabarro
T: +44 (0)20 7524 6391
a.bellinger@nabarro.com