BNP Paribas RE acquires London office at 4.7% yield

By A staff reporter 2012-09-17T00:00:00+01:00

BNP Paribas Real Estate has acquired 16-18 Beak Street in West London on behalf of its client DTZ Investment Management. The 1,000 m[sup]2[/sup] building was sold by Allied Commercial for £13.1 mln (EUR 16.2 mln), reflecting an initial yield of 4.66%.

BNP Paribas Real Estate has acquired 16-18 Beak Street in West London on behalf of its client DTZ Investment Management. The 1,000 m² building was sold by Allied Commercial for £13.1 mln (EUR 16.2 mln), reflecting an initial yield of 4.66%.

Situated just off Regent Street, adjacent to Golden Square and Carnaby Street, the property comprises a period building arranged over six storeys with a restaurant at ground and basement levels and warehouse style offices above.

Allied Commercial was advised by David Baroukh Associates.