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Immobilien-Investments - Case Studies
20 Golden Sq
A joint venture between Baylight Properties plc and Arlington Property Investors successfully sold the freehold interest in 20 Golden Square and 5-8 Lower John Street to private clients of Harris Associates for a price of £16,500,000 to reflect a net initial yield of approximately 4%.
The building provides approximately 25,000 sq ft of net lettable office accommodation and is let to three tenants with a current rental income of £693,960 per annum rising by way of a fixed increase to £711,600 per annum in June 2008.
Baylight / Arlington were working up a scheme for redevelopment but having restructured the occupational leases took advantage of the appetite in the Central London investment market and concluded a sale to show their investor a net return of over 50% per annum.
Cyril Leonard advised Baylight / Arlington. |
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