Argyll Property Asset Managers has sold 23/24 George Street, Richmond Upon Thames, West London, to British Gas Corporation Pension Scheme for £5m. The deal reflects a yield of 6.7%
The property (pictured right) consists of two retail units let to Richards and Principles, and multi-let offices on the upper floors.
Richards is paying £94,000 pa (£93.40 Zone A) while Principles pays £133,500 pa (£144.75 Zone A). Office rents in the building are between £131.86 – £199.13 per sq m (£12.25 – £18.50 per sq ft).
Hillier Parker represented Argyll whilst DTZ Debenham Thorpe acted for the purchaser.
EGi News 02/04/97
