Gazelli Art House has bought 39 Dover Street, W1, partly for its own occupation, for £29m.
The price paid by the art organisation for the 9,600 sq ft Mayfair property reflects a 1.95% net initial yield.
Gazelli was already a tenant at the property, and will continue to use part of the building for exhibition space. The upper floors are used as offices.
GM Real Estate acted for the vendor, Trust for London.
joanna.bourke@estatesgazette.com
