Cluttons, leading property consultants and chartered surveyors, has acquired the freehold interest for 96-98 Baker Street and 14 Sherlock Mews for £9.15m.
Cluttons acted on behalf of an overseas client, who bought the freehold of the site from a private family trust represented by Knight Frank. The price reflected a net initial yield of 5.25% and a capital value of £644 per sq ft. The period property is multi-let at a passing rent of £508,571 per annum.
The building fronting Baker Street comprises of a cinema let to Everyman on the lower ground floor, a retail unit let to Boots at ground floor and four upper floors multi-let as offices. To the rear the adjoining mews building comprises two flats and two garages with the potential to add a further floor.