Jon Gershinson and Louisa Brooks joint fixed charge receivers for Allsop have appointed global property advisor CBRE as selling agent in respect of 431-451 Oxford Street.
The near half acre site provides a highly reversionary mixed use landmark property of 53,000 sq ft with an unbroken frontage of 75m directly opposite Selfridges on Oxford Street. The prime island site is held on four long leases from the Grosvenor Estate with over 143 years unexpired.
Phil Cann, Executive Director, CBRE, who will be handling the sale, commented:
“This landmark property is ideally placed to benefit from the near 30% rental growth on Oxford Street in the past 18 months and remains a key trading target for the international retailers given its proximity to Selfridges and the new development, Park House. The fact that the property is held in four separate leases also gives a potential investor the flexibility to actively asset manage the island block.”
Source: Allsop