Grosvenor Outguns Bidders To Win Mayfair Prize

The Grosvenor Estate has bought the long leasehold interest of a 5,718 sq ft office building at 43 South Audley Street, W1 for £5.4m from specialist builder Holloway White Allom.

Grosvenor, the Duke Of Westminster's property company already owns the freehold of the office which consists of lower ground, ground and first floors. The purchase price of £5.4m reflects a capital value of close to £950 per sq ft. The long leasehold interest expires in 124 years time in 2134.

Alex Brown head of dohertybaines central London office team who advised the vendor said: Holloway White Allom originally built the entire block that includes 43 Audley Street in 1902. It sold the office with vacant possession as it is consolidating to a single building from four separate Greater London premises. The building attracted a lot of attention and some very competitive bidding, from a number of different end users. Personally I think it would make a great Mayfair restaurant.

CBRE advised Grosvenor.

For more information please contact:

Robert Gibson at MJ2 on 0207 259 0503 / 07748 182234

Alex Brown at dohertybaines on 0207 355 3033

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