Description of 20 St James's Street
20 St James's Street development in St James's, London SW1.
Originally built in 1926, the building is currently being redeveloped.
2013 December - Great Portland Estates plc sells 20 St James's Street for £54.5 million, reflecting a net initial yield of 2.1% and a capital value of £982 per sq. ft. for the leasehold interest. The purchaser was a single client account for a German Pension Fund managed by Pramerica Real Estate Investors. The 55,490 sq. ft. property was then partially let to seven office tenants and one retail tenant, producing a net rent of £1.2 million per annum. The office element had a current weighted average lease term of approximately 1.75 years. The property was held on a long leasehold interest (98 years unexpired) geared to 15% of rents received, subject to a base rent of £223,000 per annum. Toby Courtauld, GPE Chief Executive said at the time: "After purchasing 20 St James's Street in 2010 we were planning to refurbish the building in 2015 when we expect there to be limited supply of space in the West End. However, as a consequence of a strong off-market approach, it made financial sense for us to sell the property now and invest the proceeds into other schemes in our exceptional development programme".
2010 - GPE purchased the property for £42.5 million.
Also known as the Sweden House.