London Investment Properties Track Record
15 Adam Street, WC2
December 1, 2021
VALUE
£66.1 million / NIY - 4.48% / £1,224 per sq ft
AREA
53,985 sq ft
TRANSACTION DATE
December 2021
PURCHASER
K&K Property Holdings
VENDOR
SEB Wealth Management
CBRE’S ROLE
Acquisition
DESCRIPTION
CBRE advised K&K Property Holdings on the acquisition of 15 Adam Street, WC2 from SEB for £66.1m. The purchase is their fourth in London, continuing their expansion in the capital. The freehold property is located in one of London’s most vibrant sub markets, benefitting from close proximity to Charing Cross station and Covent Garden Piazza. Comprehensively refurbished in 2019, the property provides 53,985 sq ft of office and retail accommodation, let to 10 tenants with a WAULT of approximately 7.5 years to expiries and an average office rent of £66.50 per sq ft.
Kino Law, Chief Executive of K&K Property Holdings said, “I am delighted that the Group has successfully acquired another prime asset in London. The acquisition of 15 Adam Street is our fourth commercial project in Central London. The property is strategically located and provides stable income with long-term high returns to the Group."
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