Mansford have sold the freehold interest of the Phoenix Brewery, Bramley Road, W10 for £25.3 million representing a net initial yield of 3.7%.
Having been involved in the acquisition of the 30,700 sq ft office property as a refurbishment project, Hanover Green who acted on the sale, have been involved in leasing all the space following upgrades as it became vacant. The property is multi let to 11 tenants with an average rent just under £33.50 psf. The last letting in May 2015 was done at £50 psf.
The reversionary investment was acquired by Charles Dunstone, the founder of Talk Talk and a known investor in and around the Holland Park area of London.
Hanover Green acted for Mansford on the sale.