Dukelease acquires Jermyn Street London office investment
July 3, 2012
Dukelease Properties, advised by Hanover Green, has purchased the freehold interest of 102 Jermyn St, London, SW1 from the Harmsworth Pension Fund for £9.65 million.
The investment comprises four floors of offices and a fifth floor residential apartment which generate an annual income of £292,050 pa (an average of just over £40 per sq ft for the office space) while the ground floor and basement Daks retail unit will continue to be held by pension fund.
Simon Hall, investment partner of Hanover Green comments “This property will significantly benefit from the planned enhancements to the St James’s area and the Crown Estate’s redevelopment of Piccadilly.
