Investment sale of Carluccio’s, St John’s Wood
November 30, 2015
The freehold of 60 St John’s Wood High Street, let to Carluccio’s, has been sold by Coffer Corporate Leisure on behalf of Attleborough Estates Limited to a private individual for £6.33 million.
The 3,261 sq ft property comprises a restaurant arranged over basement, ground and part of the first floor let to Carluccio’s for a further 15 years at a passing rent of £190,000 per annum, subject to a review in September 2019. The property also included four apartments over first to fourth floors. One studio apartment was provided with vacant possession whilst the remainder were sold off on long leasehold interests subject to a £750 per annum ground rent. The striking corner terraced building is in a prominent location close to Regent’s Park and Lord’s Cricket Ground and surrounding by a large and affluent catchment.
Lawrence Telford, Director of Coffer Corporate Leisure said: “Central and Greater London leisure investments have seen unprecedented levels of demand in 2015 and we see no sign of this abating as we pass into the New Year. Well-let leisure investments remain very popular with investors and as evidenced by this very low-yielding, off-market transaction.”
Coffer Corporate Leisure acted for the vendor Attleborough Estates. Michael Elliott acted for the purchaser.