Allsop have completed on the purchase of Warner Brothers West End Headquarters for Grafton Advisors on behalf of the Schroders WELPUT fund for £65M.
Piers Glover, Partner at Allsop LLP who represented Grafton/WELPUT commented
“98 Theobald’s Road is a freehold headquarters building which is let on a low passing rent and provides options to improve the asset at the end of the lease. We are pleased to have delivered an off market transaction to our client having just started our new team”
The property measures 135,000 sq ft and is let to Warner Bros Entertainment until September 2014 at £3,900,000 per annum (£29 psf)
The price paid is circa £65 million for the freehold interest via corporate purchase reflecting a Net Initial Yield of 6% and CV £480 psf.
Blog | Commercial Central London Investment
Allsop Buy Warner Brothers West End Headquarters for £65M
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
Related Insights
Leasehold Reform: History in the Making
With approximately 4.8 million leasehold flats and houses across England, the Leasehold system is currently subject to a peri...
Key Planning Changes to be Aware Of
National Planning Policy UpdatesAs a further push to ‘get Britain building’ and achieve Labour’s manifesto pledge of deliveri...
Upward and Downward Rent Reviews - does it matter?
An upwards-only rent review (UORR) is a lease clause ensuring a rent stays the same or increases at review, even if market ra...
Allsop’s July commercial auction sees year-to-date sales approach £200m
Allsop, the leading property consultancy and UK’s largest property auction house, raised £30m at its July commercial auction,...