John Lyon’s Charity has secured the freehold interest in 46 Kensington Court, W8, by way of a sale and leaseback with Warner/Chappell Music for £22.6m – a 3.4% yield.
The former electricity generating station, originally constructed in the 1880s, comprises 16,000 sq ft of offices.
The deal involved the grant of a 15-year-lease to Warner/Chappell Music Limited at an initial rent £49 per sq ft.
Cluttons advised John Lyon’s Charity, which provides educational grants for children and young people; CBRE acted on behalf of Warner/Chappell Music.
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