Alexan has sold Sedley Place on Oxford Street, W1, to Scottish Widows Investment Partnership Property Trust for £76m, reflecting a yield of 4.27%.
The property is fully let to eight tenants, with around 85% of income secured from Boots over 13.5 years.
CB Richard Ellis, which acted on behalf of vendor Alexan, said that following the rental growth seen on Oxford Street over the past 12 months, most notably Desigual’s letting at 360 Oxford Street, Sedley Place is considered to be reversionary with rental growth expected at the next rent review in 2014.
Angermann Goddard & Loyd and Douglas Stevens advised SWIP.
annabel.dixon@estatesgazette.com
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