Commercial

66 St James’s Street sold for £10.5m

Q2 2012

Standard Life Investments has sold the freehold of 66 St James’s Street to Albert Hay’s Capital and City Group for £10.5m reflecting a net initial yield of 3.94%.

Standard Life Investments has sold the freehold of 66 St James’s Street to Albert Hay’s Capital and City Group for £10.5m reflecting a net initial yield of 3.94%.

The iconic property extends to 11,843 sq ft with retail and office tenants occupying the ground to fourth floors and a private residence contained on the fifth and six.  The commercial tenants include the Drambuie Liquor Company, H2 Glen Fern and Ferox Capital Management producing a passing rent of £438,133 per annum.

Strutt & Parker acted on behalf of Standard Life Investments; the purchaser was represented by Martin Perry Associates.