Mayfair Capital Investment Management’s flagship fund has bought 17-18 Hayward’s Place, EC1.
Property Income Trust for Charities paid £8.5m – a 4.14% yield – for the 9,461 sq ft Clerkenwell property.
It is fully let to four tenants and produces an income of £358,582 pa.
James Thornton, chief executive of Mayfair Capital and fund director of PITCH, said: “The property will provide PITCH with direct exposure to central London offices in an area that continues to see robust tenant demand and rental growth and which should benefit from the impact of Crossrail.”
Egan Asset Management advised the private overseas vendor; Cyril Leonard and Farebrother represented Mayfair Capital.
