JP Morgan has bought 291 Oxford Street and 2 Harewood Place, W1, for around £71m – a 5.76% yield.
The 26,121 sq ft building was put up for sale by Hong Kong investor Lai Wing in February as part of a trio of investments being sold through JLL.
The Trinity portfolio also includes Strandbrook House at 2-5 Old Bond Street, W1, and 147-155 Wardour Street, W1. Together the trio was expected to fetch around £260m.
The building comprises two shops let to McDonald’s and EE, covering 10,863 sq ft and 15,298 sq ft of part-let office space on the floors above. It generates around £4.4m in annual rent.
Lai bought the property from Alan Sugar’s Amsprop from £75.8m in 2013.
Hanover Green advised JP Morgan on the deal.
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