X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Two prime properties have changed hands on the city’s Bond Street, an area that has become a magnet for private investors in recent years. The two deals between them amounted to £18.5 million ($31 million).

A consortium of private Irish investors has sold 170 New Bond St. to two private American individuals for a price in excess of the quoting price of £6.5 million ($11 million). The building is let to Time Products until 23rd June 2024 at a present passing rent of £250,000 ($417,000) per annum.

And another Irish investor has sold 37/38 New Bond Street to a consortium of American and Swiss investors at a price in excess of the quoting price of £12 million ($20 million). This building is let in its entirety to Ermengildo Zenga for a term to expire 24th December 2023 at a current passing rent of £500,000 ($835,000).

All the purchasers were represented by CB Richard Ellis and the private Irish vendors by Strutt & Parker. Tony Thesiger of Strutt & Parker’s West End Business Team says: “Having seen a significant return of their investments since purchasing these properties, the vendors are now seeking further opportunities with future potential for growth.”

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.