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
News
22/04/24
April Residential Auction raises £43m amid signs of growing confidence in the market
Residential Auction Team raises £43m in April auction amid signs of growing confidence in the market
News
16/04/24
Allsop Commercial Auction Team releases May catalogue with a focus on London
There is a strong theme of London lots, including a portfolio of 13 shops and residential property in north London being offe...
Blog
11/04/24
Five things to consider when your new rates bill arrives
Five things to consider when your new rates bill arrives
News
02/04/24
Allsop raises £238m in auctions in first quarter following £55.8m March residential sale
Allsop, a leading property consultancy and the UK’s largest property auction house, has raised £55.8 million through the sale...