REAL estate investment manager Barings has sold a Grade II-listed office building in St James's to a German property investor for £71m.

Cara Real Estate, the property arm of Cara Investments, yesterday acquired 7-10 Waterloo Place, in its second London deal following the purchase of 20 Soho Square for £117m in 2018.

Barings bought the building, which counts Brewin Dolphin, Harbour Litigation Funding and Apollo Tyres among its tenants, for £35m in 2014.

The sale represents a net initial yield of 4.06 per cent.

(c) 2020 City A.M., source Newspaper