BNP Paribas Real Estate has acquired 16 – 18 Beak Street, London W1, on behalf of its client DTZ Investment Management. The 1,097.84 sq m (11,817 sq ft) building was sold by Allied Commercial for £13.1 million, reflecting an initial yield of 4.66%.
Situated in a prime Soho position just off Regent Street, adjacent to Golden Square and Carnaby Street, 16 – 18 Beak Street comprises an attractive period building arranged over six storeys with a restaurant at ground, and basement and warehouse style offices above.
Tim Hugill, West End Investment Director at BNP Paribas Real Estate, commented: “From the outset, given the lot size, profile and location we were very keen to secure this property for our client. It is a very attractive block with multi let offices, set above an incredibly prominent corner restaurant in one of the busiest and most popular locations in the West End.”
Allied Commercial was advised by David Baroukh Associates.