Mayfair offices sold to private overseas investor

Grade II listed Georgian building acquired for £6.725m

Article posted: 20 Jul 2011

Office space in Mayfair has changed hands between an unnamed vendor and private overseas investor in a deal valued at £6.725m, representing a net initial yield of 3.8% and a capital value of £1,825 per sq ft.

The freehold interest in Chesterfield House, 1 Chesterfield Street and 16A Curzon Street has been sold by a client of Nightingale Partners to a private overseas client of Jones Lang La Salle.

Chesterfield House comprises a highly attractive Grade II listed Georgian building located in the heart of Mayfair. The property provides office accommodation totalling 3,686 sq ft and is let in its entirety to Seadragon Technical Services Limited under a lease with a tenant’s break option in November 2012 which has already been exercised.

The vendor was advised by Nightingale Partners. The purchaser was represented by Jones Lang La Salle.

Nightingale Partners also recently advised a private overseas client on the disposal of a mixed-use property on New Oxford Street, WC1.

The freehold interest in Isis House, 64-76 New Oxford Street, London WC1 was sold for £9.5m.

The 19,000-sq ft building comprises retail space on the lower ground and ground floor together with three upper floors of office space in the heart of the West End. Tenants include Prêt a Manger and international PR consultancy, Ruder Finn (UK).

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Posted by Sara