US retail specialist Thor Equities has closed on the acquisition of 147-155 Wardour Street in Soho for £43 mln (€50.6 mln) or a yield of 3.2%.
Thor plans to refurbish the 25,365-sq ft (2,300 m2), six-storey mixed-use property, which will include redecorating the existing façade on Wardour Street.
'147-155 Wardour Street is ideally situated in a prime area of the burgeoning Soho neighbourhood, surrounded by popular restaurants, cafés and galleries as well as a number of trendy retail stores,' said Joseph Sitt, CEO of Thor Equities.
Retail tenants in the building are Hummingbird Bakery, L'ETO Caffe, and contemporary art gallery Unit London. Office tenants include First Point Group, the corporate office of Hakkasan, and games developer Mediatonic.
A number of high-end restaurants have opened in the area including Social Eating House, HIX Soho and The Ivy Soho Brasserie, along with leading retailers such as Agent Provocateur, APC and Supreme.
The location is close to Oxford Street as well as the new Tottenham Court Road station of Crossrail, Europe’s largest infrastructure project opening in 2018.
Thor owns a number of properties in London on Oxford St and other central locations as well as Burlington Arcade, a historical and architectural masterpiece. In continental Europe its holdings also comprise retail assets on prime locations in Paris, Madrid and Milan.
