A private members’ club-style meeting place for KPMG partners and clients in Mayfair has been put up for sale.
Knight Frank has been appointed to market the five-storey building at 20 Grosvenor Street, W1, on behalf of Grosvenor, which is seeking offers in excess of £95m. The price for the 125-year long leasehold interest reflects a 3.8% yield.
The townhouse was opened last year to entertain KPMG clients and features offices, business lounges, a hotel, bar and restaurant.
KPMG is headquartered in Canary Wharf, E14, and the club provides a more central meeting place for clients.
The 43,000 sq ft building is let to the firm on a 15-year term expiring in February 2030, with a break in 2025. It generates £4.3m pa in rent, equivalent to around £104 per sq ft.
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