The Mayfair flagship of fashion house Alexander McQueen is back on the market for offers in excess of £160m – a 2% yield – after a £170m sale fell through.
Meyer Bergman, which owns Burlington Arcade, W1, was in advanced talks with NFU Mutual at the end of last year to buy 5 Old Bond Street, W1, also known as Standbrook House, but these talks have now ended.
The 23,265 sq ft building features ground-floor shops let to McQueen and Tods, both of which have 12 years left on their leases.
The asset also includes five upper office floors that have undergone a refurbishment.
NFUM announced lettings on three of the office floors to property company Tritax, foreign exchange company Argentex and auctioneer John Pye & Sons this summer at rents of around £85 per sq ft.
Chapman Petrie and Hoddell Stotesbury Morgan are advising NFUM.
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