A Middle Eastern investor and a client of real estate advisor Savills has acquired a mixed use freehold property in London for almost $52 million.
The freehold building which accommodates a Nobu Restaurant, comprises two adjoining properties totaling 40,201 sq ft with office, retail and restaurant space. The annual rental income is $2.65 million.
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More details from their release follows
A private Middle Eastern investor, represented by international real estate advisor Savills, has acquired a mixed use freehold property, which accommodates Nobu Restaurant, at 15 Berkeley Street and 35 Dover Street, Mayfair, London from a Middle Eastern vendor.
The purchase price of approximately £36 million reflects a net initial yield of around 5%.
The freehold building comprises two adjoining properties totalling 40,201 sq ft (3,734 sq m) with office, retail and restaurant space. Tenants include Nobu Berkeley Ltd, Funky Buddha and Tigris Financial Group. The annual rental income is £1.84 million.
Paul Cockburn, Director of Savills Central London Investment team, says: "Our client was attracted to the high profile of the investment which was underpinned by the restaurant operation and brand."
The vendor was advised by Colliers Godfrey Vaughan.
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