DTZ Investors dispose of the leasehold interest of 117 Jermyn Street
DTZ Investors has successfully disposed of the leasehold interest of 117 Jermyn Street for £67m to the Crown Estate. The asset was acquired in 2010 for £31.25m and consists of a cinema, retail unit and 3 floors of offices above. The property was acquired to take advantage of the strengthening Central London market and rental growth we envisaged coming coming through, both from the lack of supply in Central London generally and also specifically in this micro location due to the significant investment being put into the area by the major landowner, the Crown Estate.
The fund has seen significant income growth over the period of ownership as well as delivering a significant capital return for our client.
Chris Sim, director at DTZ Investors, said: “We are delighted to complete the sale of 117 Jermyn Street which successfully concludes the business plan for this asset. The fund has seen significant income growth over the period of ownership as well as delivering a significant capital return for our client.”
Cushman & Wakefield acted on behalf of The Crown Estate with Allsop acting for DTZ Investors.