Starbucks fetches £7m on Kensington High Street, W8

20 December 2016

International real estate advisor Savills, on behalf of a private vendor, has sold the freehold of 197 Kensington High Street, London W8 to a South African private investor for £7 million, reflecting a net initial yield of 3.3%.

The 3,929 sq ft (365 sq m) mixed-use property is single let to Starbucks Coffee Company Ltd with approximately nine years unexpired and generating an annual income of £250,000. Office accommodation on the first, second and third floors is vacant. 

Paul Cockburn, director in the Central London investment team at Savills, comments: “With a strong covenant and an opportunity to add value on the vacant upper floors, this prominent Kensington High Street asset generated significant interest from both overseas and domestic private investors with the deal completing well above the asking price.”

The purchaser was advised by Knight Frank.

 
 

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Paul Cockburn

Paul Cockburn

Director
Central London Investment

Savills Margaret Street

+44 (0) 20 7409 8788