The late Victorian property is located in a prominent position on the East side of Buckingham Palace Road, directly opposite the entrance to the Royal Mews. It provides a total net floor area of 20,800 over basement, ground and five upper floors.
Warwick House is let to seven tenants on nine leases, producing a total passing rent of £433,960 ($625,000) per annum equating to £23 per sf for the offices, compared with Merivale Moore's estimated rental value of £30 per sf.
Mike Probert, Merivale Moore's Chief Executive, said: 'Merivale Moore will continue to enhance its Central London office portfolio through acquisitions of this nature where there is scope to make improvements and thus add value. In this case, we are hopeful of achieving a 9% net yield by the end of 2002'.
Nelson Bakewell acted for Merivale Moore and Healey & Baker for the Grosvenor Estate.
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