Orchard Street Investment Management has completed the acquisition of 25 Great Pulteney Street, W1, for £54.4m – a net initial yield of 3.96%.
The new-build office in Soho was bought on behalf of St James’s Place from F&C Commercial Property Trust, which is managed by BMO Real Estate Partners.
The seven-storey building comprises 32,500 sq ft of grade-A offices and four roof terraces.
It is fully let to WPP, CarVal Investors, Medicxi Ventures and Zebedee Capital Partners with rents ranging from £70 to £96.50 per sq ft for the upper floors. The property has a weighted average unexpired lease term of six years.
Orchard Street was advised by Savills; FCCPT was advised by Strutt & Parker.
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