The Mayfair home of Swiss luxury retailer Piaget has been bought by a private European family investor for £65m – a 1.6% yield.
The property at 169 New Bond Street, W1, is let to Piaget, part of the Richemont Group, on a 19-year-lease at £1.1m pa.
CBRE was instructed by the private Middle Eastern freeholder to sell the asset in a select marketing process.
The buyer, a newcomer to the UK property market, fought off competition from four other parties.
Kieran D Cotter & Co acted for the buyer.
All parties declined to comment.
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