Current uses on the estate include offices, hotel, retail, residential and restaurants, and the 56 commercial tenancies produce an annual income of £2.6million ($4 million). The sale price reflected a net initial yield of 6.15%, which will increase on settlement of outstanding rent reviews.
Insignia Richard Ellis and Insignia Financial Services advised Credit Suisse Asset Management, which in turn was acting on behalf of The Buckingham Estate General Partner Limited Partnership. Robinson Somerston represented the purchaser.
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