BBC Pension Trust has snapped up a shop and office investment in Regent Street, W1, for £12.1m, on a yield of 5% – the area’s lowest in years.
Mutual House, at 193-201 Regent Street, has 766 sq m (6,605 sq ft) of retail space, let to companies including Church’s Shoes, Racing Green and The Pen Shop, and 1,745 sq m (18,790 sq ft) of offices let to five tenants, including Pretty Polly. The property is held on a 120-year lease from the Crown.
Michael Elliott & Partners advised the vendor, Japanese company Asahi Urban Development Co and Knight Frank acted for the BBC.
EGi News 27/03/97
