LONDON-Credit Suisse Property Investment Management has sold the Buckingham Estate in London WC2 to the Golfrate Group for £40 million ($62 million). The estate forms an island block of 16 properties situated to the south of the Strand alongside Charing Cross Station.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.