Soho sale for NPL

National Provident Life have sold the 250 year lease in 14-18 Noel Street, Soho, W1 for £10.3 million to the Prudential Secured Income Fund.

Providing some 16,000 sq ft of office and hotel accommodation let to Morgan Sindall Group Plc and the YHA, the investment produces a current income of some £500,000 pa.

The purchase reflected a net initial yield of 4.6%. Ignis Asset Management and Hanover Green acted for NPL on the sale, having previously re geared the occupational and head leases.

Full property details under Projects

 

Contact us

Hanover Green LLP
Sackville House
40 Piccadilly
London W1J 0DR

T: +44 (0) 20 3130 6400
E: sholmes@hanovergreen.co.uk

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