Prime Retail Strip Sold On Oxford Street for 2.8% NIY
January 21, 2013
Acting on behalf of Resolution Properties, Hanover Green has sold the freehold interest in 105-109 Oxford Street, London W1 to Strathclyde Pension Fund represented by DTZIM for £18.25 million.
The sale was subject to a 999 year leaseback on the residential scheme being carried out by Resolution on the 1st floor and above and to the rear at the Hat Factory on Hollen Street and scheme where the majority of the units have now been sold.
The sale showed a net initial yield of 2.8% with a reversion on re letting and review later this year of 4.75%.
