Savills plc

09/14/2020 | Press release | Distributed by Public on 09/14/2020 08:12

Private European investor acquires office freehold on Whitfield Street, London W1

The property was comprehensively refurbished in 2016 and comprises 12,031 sq ft of Grade A office accommodation, fully let to five tenants. The property produces a total income of £937,820 per annum, which reflects £77.95 per sq ft overall, and has a weighted average unexpired lease term of four years to expiries.

Earlier this month, Savills reported an uptick in interest from European investors in London's commercial real estate who now represent the most active international buyer group in the market.

Against ongoing global uncertainty resulting from the Covid-19 pandemic, Savills says London offers European investors 'a constricted office market and conservative development pipeline along with a considerable discount on prime city centre office yields compared to similar assets in Frankfurt, Munich and Paris.'