DisposalLondon
Rolex, One Hyde Park, SW1
Sale of Rolex, One Hyde Park, sets all-time record
A record yield of sub-2% has been set for a luxury West End shop as demand from international investors remains fierce.
A private Middle Eastern investor has paid more than £22m - a record 1.7% yield - for the Rolex store at the base of Candy & Candy's One Hyde Park in Knightsbridge, SW1. It is the first time yields have dipped below 2% in the area.
The previous Knightsbridge record was set the last time the 2,781 sq ft Rolex shop traded in 2011, with the purchaser paying £13m, reflecting a 2.9% yield.
Nightingale Partners advised the vendor.
