One of the biggest freeholds in central London has been put up for sale by the British Petroleum pension fund.
The three-acre block, which lies south of the Brompton Road between Harvey Nicholls and Harrods in Knightsbridge, has an asking price of £415m, which reflects an initial yield of about 5%.
Brian Tisdall, portfolio manager at Ropemaker Properties, the property nominee of the fund, confirmed the decision to sell.
Full details of the portfolio, which is a mix of residential, office and retail, have been sent under a confidentiality agreement to a list of selected potential buyers in the last few days.
In June 2001, BP sold its Berkeley Square estate to a group of Middle Eastern investors for £325m.
CBRE is the selling agent.
References: EGi News 04/02/05
