16 Old Bailey, London, EC4

This 8,650 sq m (93,115 sq ft) property had been recently refurbished/ developed by Hammerson and let to Withers when we advised CGI on the building's purchase as part of a package with Globe House, WC2 in December 2004. The apportioned price was £51 million to reflect a net initial yield of 7.05%. We subsequently advised CGI on the building's sale to a private Irish investor in March 2005 at a price of £56 million.