The building housing Victoria Beckham’s Mayfair flagship store is for sale for offers in excess of £40m – a 3.39% yield.
Savills has been instructed to sell the freehold at 36 Dover Street, W1.
The building was redeveloped in 2014 to provide 14,648 sq ft of commercial space. It provides an annual rental income of £1.4m.
It is fully let to office tenants Castleforge Partners, Hampden & Co and Integration Management Consulting, paying an average of £90 per sq ft.
The ground floor shop is let to Beckham Ventures – the privately held company owned by Victoria and David Beckham that operates the former-Spice Girl’s fashion line – for a remaining seven years.
The fashion brand took the premises in 2013. The move catalysed a demand from other high-profile retailers to secure a foothold in the area. Prime zone-A rents on the street are now more than £500 per sq ft.
The corporate vehicle in which the asset is held is also for sale.
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