Investment Case Studies

Piccadilly, London, W1

Cyril Leonard advised Meyer Bergman on the acquisition of the Waterstones flagship store on the south side of Piccadilly. The building provides 66,317 sq ft of net useable floor area and is let to Waterstones with a lease expiry in March 2034. A price in the region of £67m has been paid to show a net initial yield of 4% on rent review this year. The price is equivalent to just over £1,000 psf. Cyril Leonard’s Project and Building Consultancy Team also provided technical due diligence to support the acquisition.

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