Waterstones, 203-206 Piccadilly
London, W1J 9HD
Cyril Leonard advised Meyer Bergman in 2014 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 was paid to show a Net Initial Yield of 4.00% on rent review in June 2014. The price was equivalent to just over £1,000 per sq.ft. The property was on sold on the advice of Cyril Leonard for £92m in 2016 to Cassa Forense, an overseas mandate of CBREGI. Our Client, Meyer Bergman, doubled their equity over a two-year hold period.
|Value:||£67m - £92m|
Acquisition & Disposal