Derwent London sells Tottenham Court Road hotel

Derwent London has completed the sale of the freehold of 120-134 Tottenham Court Road, W1, to a private investor for £69.7m. Total rent is £2.3m, a 3.3% yield. The 330-bedroom hotel is let to Radisson Blu Edwardian Grafton on a 147-year lease. The 26,400 sq ft of retail space is let to 11 tenants. John Burns, chief executive at Derwent London, said the sale was at a price above December 2015 and June 2016 valuations. He said: “This sale takes total disposals for the year to £210m. With 98% of the sales exchanged or completed in H2, these demonstrate the good continuing interest in central London.” • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @EGAlexPeace or @estatesgazette