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6 – 7 Queen Street, City of London, EC4
6 - 7 Queen Street, City of London, EC4
Address: 6 - 7 Queen Street, City of London, EC4
Client: Colliers Capital
Price: £2.5m
Transaction: Purchase of the head leasehold interest on behalf of Colliers Capital (jointly with Muxworthy LLP)
In an unusual deal, BBG advised Colliers Capital on the purchase of the remaining 11 years of a head leasehold interest of this city core office building. At £2.5m reflecting a net initial yield of over 13%, the pricing was heavily discounted to reflect the potential dilapidations liability and voids. BBG has been retained as letting agents and successfully let vacant floors over several years at well in excess of the rents anticipated at the time of purchase.
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