Acting on behalf of clients we conducted a very specific, targeted off-market sale of a portfolio of Central London restaurants and retail properties and achieved a price of £7.9m reflecting a net initial yield of 5.9% with an annual rental income of £492,850 pax.
The portfolio consisted of a long leasehold restaurant in 145 Drury Lane WC2, a shop let to Ladbrokes, 352/353 Strand WC2, The Gay Hussar Restaurant at 2 Greek Street W1 and shop, restaurant and upper parts at 72 & 74 Wardour Street W1.
We are now looking to reinvest the money in well-let retail units/parades in strong UK towns.