Ex Queens Art Deco Cinema, W2 sold for £3.5 million
December 8, 2016
The freehold of The Queens Building, 96-98 Bishops Bridge Road, W2 has been sold by Derwent London for £3.5 million. The ground floor retail unit comprising 3,131 sq ft is let to Heal & Son Ltd for 15 years from March 2015. There are 16 residential apartments above the retail unit which have all been sold on 250 year leases with rising ground rents.
The passing rent was £144,400 pa and the sale reflected a net initial yield of circa 4 %.
Hanover Green acted for Derwent London on the sale.
