The West End Office Investment Market continues to gather strength as Red Kite has sold 25-27 Shaftesbury Avenue on behalf of a Family Trust to an Offshore Private Investor.
The investment was anchored by a McDonald’s unit on the ground floor with refurbished offices above. The passing rent on the offices showed an over rented position but the strength of the market was such that the initial yield reflected optimism by the purchaser that rental growth in Central London will bring this property back in line in terms of market rental levels.
The property was placed on the market through Lewis Ellis and Partners and H2SO in a short and sharp marketing campaign that lasted only two weeks. The purchaser completed the purchase within four weeks of receiving papers. RoslingKing LLP acted as solicitors for the Family Trust and Red Kite provided asset management and market advice throughout the transaction.