Grosvenor Britain & Ireland has sold the 125-year long leasehold interest in 33 Grosvenor Street, W1, to Real Assets Global Opportunity Fund I for an undisclosed sum.
The fund is advised by Floreat Real Estate, part of the Floreat Group.
The 11,437 sq ft townhouse will be sublet on a 10-year-lease to the Floreat Group for its new London headquarters.
The property has been substantially refurbished, as well as maintaining period features, to deliver grade-A offices.
Grosvenor will retain the freehold in the asset.
Craig McWilliam, executive director, London estate, at Grosvenor, said: “It is great to attract Floreat Group to this part of the West End. Sale proceeds will be reinvested back into our London estate.
“Mayfair is undergoing a transformation ahead of the new Elizabeth Line opening in 2018, with improved public areas and the opening of some of London’s best new galleries, shops and hospitality. This is helping to grow the West End and enhance London’s reputation as a world city.”
Savills acted on behalf of Floreat Real Estate; Knight Frank advised Grosvenor.
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