Knight Frank has recently purchased the virtual freehold interest of 98 Harley Street on behalf of a private client for £9.8m, a net initial yield of 4.00% and a capital value of £1,163 psf.
The 8,444 sq ft property was sold on the basis of a 15 year sale and leaseback to The Private Clinic.
Cushman & Wakefield acted on behalf of the vendor.
James McCluskey, partner, investment team, Knight Frank, commented; “The purchase of 98 Harley Street satisfied our client’s requirement for a secure long term income opportunity. The capital value of the asset with vacant possession is in line with the price paid with the benefit of the occupational lease offing very little downside risk for our client”
