Substantial Baker Street acquisition for private client
Cluttons acting on behalf of an overseas private client has acquired the freehold interest in 96-98 Baker Street comprising a cinema, a retail unit and offices above and 14 Sherlock Mews comprising two flats and two garages for £9.15m, reflecting a net initial yield of 5.25%.
How we helped
Having identified the opportunity, we guided the client through the entire investment purchase process.
- We inspected the building on numerous occasions, measured it and undertook the full due diligence required.
- We provided in-depth analysis on the maximum pricing for the asset and advised on its asset management and development potential.
- We secured the building for the client against Central London’s strong competition.
- We liaised with other specialist advisers and solicitors to successfully complete the transaction.
- The investor is now enjoying exposure to Central London property.
- The client has a very attractive holding with various asset management opportunities.
- The investor is benefiting from a high diversity of income from within the building.
- The investor was very pleased with the service Cluttons provided and has asked our Property Management Team to manage the building.
Partner – head of commercial and strategic asset managementT +44 (0) 20 7647 7067 Email Matthew