News

Derwent London sells 120-134 Tottenham Court Road W1 for £70m

Derwent London sells 120-134 Tottenham Court Road W1 for £70m

21 Dec 2016

Derwent London has completed the sale of the freehold interest in 120-134 Tottenham Court Road W1 to a private investor for £69.74m before costs.

The property comprises a 330-room hotel and 26,400 sq ft of retail and restaurant floorspace.  The hotel is let to Radisson Blu Edwardian Grafton on a long lease with a 147-year unexpired term and the retail is multi-let to 11 tenants on various lease terms.

The building produces a total net annual rent of £2.33m.

John Burns, Chief Executive Officer of Derwent London, commented:

“We are pleased to have completed this disposal at a price above both our December 2015 and June 2016 valuations.  This sale takes total disposals for the year to £210m.  With 98% of the sales exchanged or completed in H2, these demonstrate the good continuing interest in central London.”

- ends -

Download Press Release

Related Links

Press Contact

Nina Coad
Brunswick Group
Tel +44 (0)20 7404 5959
derwentlondon@brunswickgroup.com