Brockton Capital has bought 33 Broadwick Street, W1, for around £48m – a 3.98% yield – as it looks to take advantage of the street’s growing retail and leisure appeal. It plans a major refurbishment of the 42,109 sq ft property, which was sold by SEB. Hearst Magazines occupies the 38,368 sq ft of office space paying £45.25 per sq ft. Hearst’s lease expires in September next year and it has appointed JLL to find it a new 80,000 sq ft base in which to consolidate its London offices. The shops on ground floor are Broadwick Street are occupied by itsu and Pret A Manger. JLL acted for the seller; Cushman & Wakefield advised Brockton.
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