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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.”

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