London Investment Properties Track Record
49 Park Lane, W1
June 1, 2022
VALUE
£93,000,000 / NIY - 2.75% / £3,336 per sq ft
AREA
27,876 sq ft
TRANSACTION DATE
June 2022
PURCHASER
Private Overseas
VENDOR
Pembroke
CBRE’S ROLE
Disposal
DESCRIPTION
CBRE advised Pembroke on this landmark sale which achieved new benchmark pricing for Central London offices at 2.75% NIY. The property was launched to market in Q1 2022 and attracted a truly global investor audience.
The property boasts the iconic Park Lane address and sits adjacent to the Dorchester Hotel with unobstructed views over Hyde Park. Newly developed by Pembroke in 2009 to an exceptional standard, the property has been single-let to leading American law firm WilmerHale since. WilmerHale renewed their lease for a further 10 years in 2019, providing 7.5 years of secured reversionary income.
Nick Moldon, senior vice president and head of UK & Germany at Pembroke said: “The sale of 49 Park Lane follows the successful execution of our investment strategy of adding value through development and active asset management of the property. We would also like to thank CBRE who advised us during the sale process.
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Contacts
Ed Bradley
Executive Director
James Hammond
Executive Director
Capital Markets
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