Oxford St refurb sold for £58m
A private Hong Kong-based businessman has exchanged contracts to buy 175-179 Oxford Street, W1, for £58m – a 2% yield.
The 21,223 sq ft block is being refurbished, and when complete cosmetics retailer Lush will occupy the ground floor.
Chapman Petrie and HSM advised vendor NFU Mutual; Michael Elliot acted for the buyer.
Brookfield in for Bloomberg HQ
Brookfield is to buy Bloomberg’s City Gate House at 39-45 Finsbury Square, EC2, for £90m ahead of the media giant’s move to a new European HQ, being built near Bank station.
Bloomberg will agree a short-term leaseback on the 178,000 sq ft building, following which Brookfield will undertake a major refurbishment.
BNP Paribas Real Estate advised Bloomberg; GM Real Estate acted for Brookfield.
Bruntwood bags BBC North site
Bruntwood has confirmed its acquisition of the former BBC North site on Manchester’s Oxford Road.
It was being marketed by Yousef Tishbi’s Realty Estates for £30m.
Bruntwood is proposing a 900,000 sq ft commercial expansion of the city’s Tech Corridor by combining the site with adjacent holdings.
Axa cuts a deal on St Mary Axe
Axa Real Estate Investment Managers SGP has bought the 83,871 sq ft 63 St Mary Axe, EC3, for £70m – a 5.25% yield.
The purchase was made on behalf of French pension scheme ERAFP.
JLL and Knight Frank advised vendor Rockspring; Strutt & Parker acted for Axa.
Rockspring buys Ipswich park
Rockspring has bought the Euro retail park in Ipswich, Suffolk, for £47.5m – a net initial yield of 7%.
The purchase of the 210,534 sq ft park was made on behalf of a separate account mandate.
Rockspring was advised by Edgerley Simpson Howe; CBRE acted for vendor Helix Property Advisers.
