Irish company Oregan Financial is paying some £70 mln (EUR 103 mln) fo the office block at 10-18 Victoria Street in London's West End. The transaction value reflects an initial yield of 4.2%. The 7,350 m[sup]2[/sup] property is fully let to the British secretary of state for a further 19 years without breaks. The deal includes 13 car parking spaces adjacent the property.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
