Spanish Investor Hemera Capital has sold the freehold of 52 Conduit Street, at a price of £28.85 million reflecting a net initial yield of 3.7%, to a private Hong Kong based investor.
The property comprises 16,527 sq ft of office and retail accommodation, and is multi let to seven tenants with a range of lease expiries at a passing rent of £1,129,333 per annum.
James McCluskey, partner, Knight Frank investment team, commented, “The successful disposal of this asset crystalized a significant uplift in value for our client over the relatively short hold period, and highlights the opportunity for vendors to take advantage of the significant weight of money chasing West End buildings at present”
Knight Frank represented the vendor.
