Blackstone has sold Mayfair office building 9 Clifford Street, W1, for £38m – a sub-2% yield.
The five-storey refurbished period brick office – comprising 13,231 sq ft and an interior courtyard garden – has been bought by a private European investor, advised by Crossland Otter Hunt.
It is majority let to law firm Brown Rudnick, whose lease expires in 2022, at a rent of £755,531 pa.
Most of Brown Rudnick’s floorspace is sublet to other tenants.
With its proximity to New Bond Street, there is an opportunity to redevelop the building as a flagship retail scheme which would appeal to luxury retailers.
Savills and Cushman & Wakefield advised Blackstone.
