London Investment Properties Track Record
6 Duke Street, St James, SW1
December 1, 2022
AREA
35,047 sq ft
TRANSACTION DATE
December 2022
TENURE
Freehold
TENANCY
Multi-let
RENT
£2.85m (£81.42 per sq ft)
WAULT
7.3 years (3.0 years to break)
PRICING
£62.47 million / NIY – 4.28% / £1,783 per sq ft
VENDOR
Abrdn
PURCHASER
Darin Partners
DESCRIPTION
CBRE advised Abrdn on the sale of 6 Duke Street St James’s for £62.5m to Darin Partners, acting on behalf of a private Middle Eastern investor. CBRE previously acquired the building on behalf of Abrdn in 2015 and have advised both strategically and on the ongoing leasing of the asset since initial acquisition. The c. 35,000 sq ft multi-let freehold property is located in the heart of St James’s and comprises office, gallery and leisure accommodation with a WAULT of 7.0 years to expiries and 3.5 years to breaks. Despite the sales process taking place in very challenging market conditions, CBRE were able to generate strong interest from a combination of domestic and international capital.
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Contacts
Ed Bradley
Executive Director
Max Tulley
Associate Director
Becky Stormer
Associate Director
Capital Markets
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