Morgan Capital has sold the long-leasehold interest on 63 Brook Street, W1 to a private east Asian investor for around £60m – a 3.4% yield.
Earlier this year the firm appointed Strutt & Parker to market the 118-year lease for the Mayfair office block, on which Grosvenor owns the freehold.
The 27,209 sq ft block, which fronts Brook Street and Davies Street, opposite Claridge’s, was redeveloped in 2009 behind a retained façade that dates back to 1813.
It is let to 10 tenants and generates a rent of £2.5m pa.
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