West End Paramount House sold for £11.76 m

Resolution Properties, advised by Hanover Green, has sold Paramount House, the freehold property at 162 – 172 Wardour Street London W1, to a private UK investor for £11.76m.

The 21,475 sq ft office and retail block is multi let to ten tenants with a total income of £602,280 pa; 3,660 sq ft of office space is currently vacant with existing office leases expiring by January 2012. The deal represents an effective net initial yield of 5% and a capital value of £560 per sq ft.

The prominent basement to sixth floor corner building, built in the 1930’s, has good floor-to-ceiling height and the potential to convert the upper parts to residential use from January 2012.

 

Contact us

Hanover Green LLP
Sackville House
40 Piccadilly
London W1J 0DR

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

This website uses cookies to give you the best experience, agree by clicking the 'Accept' button. View our cookie policy