Commercial West End offices
comprising 32,000 sq ft of space have been purchased for £36 million.
Orchard Street Investment Management has acquired 61-65 Conduit Street, W1, with the deal reflecting a net initial yield of 4.7 per cent.
The West End commercial offices - which are fully let - were sold by Threadneedle Investments.
Both office and retail space across the ground and five upper floors are included within the asset.
Commenting on the deal, Orchard Street Investment Management chairman Chris Bartram said: "The West End office market is one of the few areas with genuine prospects for rental growth and 61-65 Conduit Street is well placed to benefit from this."
He added that the premises is "a high-quality asset".
Earlier in the year, the organisation sold 60 Cannon Street, EC4 for £30.9 million on behalf of the Orchard Street UK Special Situations Fund.
The commercial City offices
are strategically located and opposite the new site of the headquarters for Bloomberg.
Posted by John Evans
News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.