Property News - Bond St Chanel sold for £6.3m

A private Irish investor has bought Chanel's store at 173 New Bond Street in London for£6.3 million.

The Grade II-listed property is held on a 2,000-year lease from the City of London Corporation from 1889 at a fixed rent of£40.50 per annum.

The 320 sq m five-storey building is let to Chanel for 25 years from 1996 at a rent of£290,000 per annum.

CB Hillier Parker and CB Hamilton Osborne King represented the purchaser, while Cushman & Wakefield Healey & Baker advised the vendor.