CBRE Global Investors, on behalf of the CBRE UK Property
Fund, has sold 37/38 Golden Square, London to a residential developer for £43.02 million.
The property is located in the heart of Soho and comprises a mixed use office, retail and
restaurant building totalling 28,152 sq ft arranged over lower ground, ground, and seven
upper floors including the reception area.
The offices are multi let to six tenants with a further seven tenants occupying the ground floor
retail units. These include Golden Square Business Centre, MSC Group Ltd, CWM, Greggs
and Pizza Express.
In November last year the Fund secured planning consent to convert the upper floors to 22
apartments, which includes an additional 6,000 sq ft of floor space. The consent also includes
the ability to reconfigure the retail units into a more desirable layout.
Hannah Marshall, Fund Manager, UK Property Fund, CBRE Global Investors commented:
“Having secured a valuable planning permission last year, we see this as an opportune time
to sell, particularly in light of the continued strength of appetite for the Central London
Hanover Green acted with CBRE Residential for CBRE Global Investors on this sale.