WELPUT has put the freehold interest of 3 St James’s Square, SW1, on sale for £133m – a 4% net initial yield and a capital value of about £2,570 per sq ft.
The unlisted central London fund bought the building in 2012 with plans to refurbish it.
Grafton Advisors, property adviser for WELPUT, said it will sell the completed asset and recycle the capital into new investments and other refurbishment projects, including 20 St James’s Street, SW1.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
