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West End investment sells at 4.24%


Advised by Colliers Retail Capital Markets team, a private investor client has sold a prime freehold retail and residential investment in London’s West End to a private Hong Kong investor for £8.3m.


“The property at 118-120 Wigmore Street comprises a prominent nine-storey terraced building arranged as two retail units at basement and ground floor level with residential accommodation over the seven upper floors. The total current annual income from the investment is £375,000, and the sale reflected a net initial yield of 4.24%. The two retail units are let to Halcyon Interiors and Poggenpohl.


Becky Hance of Colliers’ Retail Capital Markets team comments: “Wigmore Street has become a destination for high quality kitchen and interiors showrooms and this property occupies a prominent position on the street”.


becky.hance@colliers.com | +44 (0)20 7344 6841


Mayfair restaurant rent review


Colliers’ Central London Lease Advisory team has been instructed to advise on the rent review of the the MNKY HSE bar and restaurant in London’s Dover Street.


Colliers’ Giles Smallwood comments: “Formerly the Dover Street Wine Bar, the MNKY HSE is a prime Mayfair venue with a Latin American theme. Since it opened in 2016, it has become a fixture in the capital’s late night scene.


“We’ve been retained by the landlord, Dover Street Investments, to advise on the review of the rent which currently stands at £300,000.”


giles.smallwood@colliers.com | +44 (0)20 7344 6782


News


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