Allsop Buy Warner Brothers West End Headquarters for £65M

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.

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.