The Crown Estate has furthered its control of Regent Street with the £50m purchase of Jaeger House, W1.
Its Regent Street Partnership with Norges Bank Investment has purchased the head lease of 200-206 Regent Street for £50m – thought to be a yield of just under 5%.
German company IVG Institutional Funds has sold the head lease on the 48,000 sq ft building just over a year after it bought it from Gerald Ronson’s Heron International for £40m.
David Shaw, head of Regent Street portfolio at the Crown Estate, said: “As we enter the second half of our 20-year regeneration programme, we are committed as ever to transforming Regent Street, ensuring that it remains an international and office destination.”
CBRE advised the Crown; H2SO and Jackson Criss represented IVG.
joanna.bourke@estatesgazette.com
