20 St Andrew Street sold to National Bank of Kuwait

Morgan Capital development – 20 St Andrew Street, EC4 – has sold for £73.8m to the National Bank of Kuwait. The sale price reflects a net initial yield of 4.81% for the circa 59,000 sq ft building. AXA IM and Morgan Capital acquired the freehold office building in 2015 for more than £30m and subsequently Morgan Capital undertook a comprehensive refurbishment, including core repositioning and the addition of a new top floor, transforming the building to a modern Grade A standard. Tenants at the building include rail operator Abellio East Anglia, law firm Thrings and Reorg Research.