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· LandSecs anchors at Docklands’ Harbour Exchange

Land Securities has increased its holdings in London’s Docklands. It has bought the 92,000 sq ft 3 Harbour Exchange from Capital & Income Trust for around £40m at a yield of 4.5%.

20.07.07

The purchase adds to LandSecs’ holdings at 6-9 Harbour Exchange. In a second Docklands deal, Paul Kemsley’s Rock Investment has exchanged contracts to buy 30 Marsh Wall from Richmount Trust for around £20m.

In an attempt to cash in on the increasing interest in the south Docklands, Rowan Asset Management is selling the freehold of a 3 acre site at Millharbour and Glengall Bridge, which could house a 53-storey, mixed-use tower for £60m.

It is selling the property, which has partial residential consent, on behalf of the Merrion Private Equity Fund, which it runs on behalf of a small group of Irish investors.

Nick Jacobs, managing director at Rowan, said: ‘The property can be managed over a short or long period.’

DTZ acted for CIT; BH2 for LandSecs; CB Richard Ellis for Richmount; Sheppard Robson and DP9 for Rowan; Cherryman and CBRE advise Rowan.