LaSalle Investment Management Sells Queen Anne Street Office Building
8 August 2014 - LaSalle Investment Management has announced the disposal of a 150 year leasehold interest in 11 Queen Anne Street, London W1 for in excess of £6.5 million to a private investor.
The 5,572 square foot vacant office building will be converted into a private house. The property is located in Marylebone in the City of Westminster adjacent to Harley Street which is famous for being the home of private medicine in the United Kingdom. More recently Marylebone has become a highly desirable residential location, characterised by period town houses with an excellent selection of shops, restaurants and leisure facilities nearby.
Gary Player, LaSalle’s head of London business space, said: “This sale complies with our ongoing business plan to maximise returns from the Harley Street Estate through asset management initiatives including refurbishment, re-letting, occupation lease re-gearing and re-letting, head lease extension through enfranchisement and change of use. During its short time on the market this property received extensive interest which is a testament to the area and buildings quality.”
LaSalle Investment Management was advised by Knight Frank.
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $58 billion as of Q4 2017 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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