London Investment Properties Track Record
2 Cavendish Square, W1
December 1, 2021
VALUE
£64,100,000 / NIY - 3.45% / £2,365 per sq ft
AREA
27,105 sq ft
TRANSACTION DATE
December 2021
PURCHASER
CBRE IM
VENDOR
Howard de Walden Estate
CBRE’S ROLE
Acquisition
DESCRIPTION
CBRE advised on the successful acquisition of 2 Cavendish Square for CBRE IM. This was a highly competitive process with 45 inspections and 11 bids in the first round and 5 parties invited into the second round.
The Property is a freehold building fronting Cavendish Square. The Property extends to 27,105 sq ft of modern office accommodation arranged over lower ground, ground and six upper floors. Multi let to three tenants providing WAULT of 10.8 years to expiry (7.2 years to breaks). The Property benefited from a short term opportunity to refurbish the 5th and 6th floors to capture the reversionary rent.
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