53-59 Chandos Place, London WC2.

The sale of the freehold interest of the above has just been announced at a price of £17,250,000, which reflects an initial yield of 4.8% and a capital value of £880 psf.

This well specified modern office of about 19,500 sq ft occupies a prime London location in the heart of Covent Garden and is positioned on a prominent corner of the north side of Chandos Place at its junction with Bedfordbury. The building is arranged over ground and four upper floors with a three-bedroom luxury penthouse flat on the fifth floor. The offices are let to Dorling Kindersley Holdings Limited and sub let to MWB Business Exchange Centres on a lease which expires in 2019.

Vendors are a private client of Strutt & Parker and the Purchasers, an overseas client of Fineman Ross.