Brockton Capital has bought the Foyles bookshop in London and the Pinnacle building in Leeds for a combined £115m for its Brockton Capital Fund III.
It bought the 37,000 sq ft Foyles, on 107 Charing Cross Road, WC2, for a price of around £45m from Noved Investment Holdings – the Foyle family’s investment vehicle.
Foyles occupies the building on a 20-year lease, having moved there in 2014 from its historic home at 111-119 Charing Cross Road. Its previous site was bought by Soho Estates, which is now developing a 300,000 sq ft mixed-use scheme there.
In Leeds, Pinnacle was purchased from US private equity firm Lone Star for about £70m at about a 6.5% yield.
The building includes 68,500 sq ft of retail space and 81,500 sq ft of offices.
Lone Star bought the site in 2015 as part of a £1bn portfolio from Moorfield’s Real Estate Fund and Real Estate Fund II.
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