The freehold interest in 60 Trafalgar Square, W1, has been sold by Bristol & West to a joint venture formed by Towntalk and HGI Commercial.
The buyers are thought to have paid around £5m for the 929 sq m (10,000 sq ft) building. They will lease back the ground floor and part basement retail unit to Bristol & West at around £100 per sq ft zone A on a 15-year lease.
A major refurbishment to provide 800 sq m (8,600 sq ft) of office space is also planned by the jv, which sources say beat competition from more than 10 other bidders. Paul Gold, from DE & J Levy, which is jointly acting for Bristol & West with Conway Relf, said: “A number of parties did bid for the building, which reflects the scarcity of such products in the West End.”
EGi News 05/01/01
