A private Polish investor has netted a near 50% premium on the sale of a prime St James’s office block it acquired just three years ago.
Standard Life Investments has paid £57.5m for 6 Duke Street, SW1 – a 3% yield.
The 35,000 sq ft building is let to tenants including auction house Christie’s, DRC Capital and two art galleries.
It last changed hands in 2012 when it was sold by Nick Leslau’s Prestbury Investments to the investor for £39.3m – a 4.45% yield.
The six-storey building, which is in a conservation area, provides modern office accommodation behind a retained period façade.
Floors one and four are currently vacant.
CBRE advised Standard Life; Crossland Otter Hunt acted for the vendor.
shekha.vyas@estatesgazette.com
