10 Whitfield Street, W1
Disposal of Office Property, Noho, London
Aviva Investors UK Real Estate Recovery Fund, advised by Nightingale Partners, has sold the freehold interest of 10 Whitfield Street, London, W1 to West Midlands Pension Fund (c/o CBRE Global Investors), advised by CBRE, for £20,185,000, reflecting a net initial yield of 4.5%.
The property totals 21,263 sq ft (1,975.3 sq m) of grade A office space arranged over five floors and is situated within the West End's vibrant Noho district. The property is currently multi-let to tenants including Fisher Wealth Management and Outsourcery Ltd.
The total income is £961,026 per annum (average rent of £46.65 per sq ft), and just under 50% of the income extends until 2020.
Aviva Investors were represented by Nightingale Partners in the sale.
