Capco expands in Covent Garden

17th May 2011 10:42

Central London-focused property group Capital & Counties (Capco) has extended its footprint in London's Convent Garden through the £68m acquisition of five freehold properties from FTSE 250 peer Derwent London.The properties (on Floral Street, King Street and Rose Street) provide 71,900 square feet of office, retail and residential accommodation around a central courtyard,The ten tenants - including F&C Asset Management, Moss Bros and Hackett - produce an annual rental income of £2.5m."This acquisition is in line with our strategy to increase our ownership in Covent Garden through the acquisition of key properties and brings the value of our estate to over £700m," said Capco chief executive Ian Hawksworth.---BC