London Investment Properties Track Record
40 Strand, WC2
June 1, 2022
VALUE
£195,000,000 / NIY 4.2% / £1,383 per sq ft
AREA
141,013 sq ft
TRANSACTION DATE
June 2022
PURCHASER
Sinarmas Land
VENDOR
Landsec
CBRE’S ROLE
Disposal
DESCRIPTION
CBRE advised Landsec on the sale of 32-50 Strand to Sinarmas Land for £195m, as part of their strategy to sell selected assets to reinvest in higher returning opportunities.
32-50 Strand is a mixed-use building, comprising 139,000 sq ft across 10 floors. The building currently serves as the European headquarters of US management consultant Bain & Company and is single-leased to the firm until March 2032. The 38,000 sq ft retail space on the ground floor is let to several occupiers including NatWest, Lloyds Bank, Sainsbury’s and McDonalds.
The building sits on a freehold island site that offered exceptional income security in excess of 10 years in the centre of London and therefore witnessed strong levels of global investor interest with a particular focus from HNW families from Asia, the Middle East and Europe.
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Contacts
Ed Bradley
Executive Director
James Harris
Building Manager
Capital Markets
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