WELPUT has put the freehold interest of 3 St James’s Square, SW1, on sale for £133m – a 4% net initial yield and a capital value of about £2,570 per sq ft.
The unlisted central London fund bought the building in 2012 with plans to refurbish it.
Grafton Advisors, property adviser for WELPUT, said it will sell the completed asset and recycle the capital into new investments and other refurbishment projects, including 20 St James’s Street, SW1.
WELPUT is advised by Strutt & Parker and Colliers.
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