Orchard Street has bought One King Street, W6, from Helical for £34.5m – a net initial yield of 4.85%.
The sale price is in line with the March 2016 book value.
Helical acquired the building from receivers in 2012 and since then has refurbished the offices and added an additional floor to the building to deliver 26,054 sq ft of offices with 10,897 sq ft of shops on the ground floor.
The property is fully let to four tenants including software consultancy Orion Health and financial services firm Realex Payments. Rents range from £32 per sq ft to £55 per sq ft.
Orchard Street managing partner Philip Gadsden said the company planned to undertake a number of asset management initiatives to raise the income level at the property.
Savills advised Orchard Street. Ben Goodberry of Tudor Toone acted for Helical.
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