This weeks property news from the central London boroughs

A weekly round up of the latest property news from the central London boroughs.

Camden

EG reports that Unite Students is selling 19-29 Woburn Place for £144m and has instructed JLL to find a buyer for the 460-bed scheme

City of London

EG reports that AXA Investment Managers Real Assets and BlackRock have sold 6 Bevis Marks to a private Middle Eastern client of Citi Private Bank for £220m The sale reflected close to a 4.5% yield.

City of Westminster

PW reports that the record for the highest capital value paid per square foot for a retail estate asset in the UK has been ‘smashed’ twice in the last week by two separate deals for jewellry stores on Bond Street.

i) A private investor has bought 169 New Bond Street, let to luxury watch and jewellery brand Paiget, for £65m, which equates to a capital value of £18,500/sq ft. This reflects a yield of 1.61%, the highest price paid per square foot for a UK real estate asset.

ii) This broke the record set earlier last week when Ian Ng paid more than £13,000 sq ft for Nirav Modi’s new jewellery store at 31 Old Bond Street. Ng paid just under £40m for the 2,827 sq ft store.

PW reports that The Howard de Walden Estate has completed the acquisition of 7-10 Chandos Street at a price of around £68m from Wesleyan Assurance Society.

PW reports that Thor Equities and Chenavari Investment Managers have closed on the acquisition of 1 Dover Street for £47.2m. The six-storey former hotel comprises 23,310 sq ft of space and is home to nightclub Mahiki.

PW reports that the basement, ground floor and mezzanine levels of 7-10 Waterloo Place are to be converted to new, high-end restaurant.

EG reports that Morgan Capital has sold the long-leasehold interest on 63 Brook Street to a private east-Asian investor for around £60m – a 3.4% yield.

EG reports that artisan bakery Maison Kayser is opening its first UK property at British Land’s development at 10 Portman Square. They will pay £235,000 pa for a 15-year lease on the 4,650 sq ft unit.

EG reports that Taylor Wimpey Central London has purchased from Bouygues Development a half-acre site on Sutherland Street. it has planning 47 apartment and a new technical college.

Hackney

PW reports that specialist pasta restaurant Savure La Pasta e di Casa has taken a 15 year lease on a 1,800 sq ft unit at 18 Paul Street.

Lambeth

TCN has secured Soho House’s Chicken Shop restaurant brand for is £22m Piano house scheme on Brighton Terrace in Brixton.

Southwark

EG reports that the City of London Corporation has appointed JLL to advise on the sale of a 150 year long-leasehold interest in Colechurch House at 1 London Bridge Walk, SE1.