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.