Albert Hay’s Capital & City Group has purchased 66 St James’s Street, SW1, for £10.5m.
The price paid to Standard Life Investments for the 11,843 sq ft mixed-use block reflects a net initial yield of 3.94%.
Tenants at building include the Drambuie Liquor Company, H2 Glen Fern and Ferox Capital Management, producing a passing rent of £438,133 pa.
The property underwent a refurbishment in 1998 – the same year it was acquired for between £4-£5m.
Strutt & Parker advised the vendor; the purchaser was represented by Martin Perry Associates.
joanna.bourke@estatesgazette.com
