CLS Holdings plc has acquired the freehold interest of 401 King Street, Hammersmith, London W6 from M&G Real Estate for £15.22m reflecting a net initial yield of 4.72%.
The 24,566 sq ft (2,282 sq m) four storey office and retail property occupies a 0.5 acre site. It is the UK headquarters and training centre for Qantas Airways with other tenants including Ultima Media and Journey Latin America.
The property currently produces £766,026 per annum, reflecting an average passing rent of £31.18 psf with a block date for the office accommodation of March 2019.
Allsop advised M&G Real Estate; Michael Elliott advised CLS Holdings plc.
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