We have completed the sale of two rare freehold office investments located in Soho and Fitzrovia on behalf of a private family trust. The properties were acquired by a private property company for £22.549m. This is the first time in over 40 years that these properties have changed ownership.
Charlie Lake, Director – Office Advisory & Capital Markets at LSH, commented:
“We are delighted to have acted on behalf of the Trust in achieving a strong level of demand for the two fully let assets, which is testament to the asset management undertaken in recent years by the Trust and LSH. The price achieved reflects a blended net initial yield of 4.5%, reflecting the strong competition the buyer fought off to secure both assets.”
We advised the vendor – a private family trust and HSM advised the purchaser.
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