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.