The Crown Estate has acquired the headlease of 130 Jermyn Street from real estate funds managed by Blackstone.
The Crown Estate already held the freehold interest in this prominent mixed-use building immediately adjacent to its St James’s Market development and head office.
This strategic location will support The Crown Estate in its ongoing regeneration of the St James’s area and creates opportunities to further enhance the public realm in the locality.
The property totals 56,800 sq ft, comprising 37,500 sq ft of fully let offices over six floors, 15,000 sq ft of retail space and seven separately accessed residential apartments on the top floor.
Dominic Packwood, Asset Manager at The Crown Estate, commented: “This acquisition represents an important addition to the portfolio, as we continue to invest in the ongoing regeneration of the St James’s Market area. 130 Jermyn Street presents us with an immediate opportunity to enhance the retail and dining mix, benefitting the immediate community as well as attracting visitors to the area.”
BH2 acted for The Crown Estate. Savills acted for Blackstone.