Property News - Property sell-off on Bond Street raises £18.5m

Two properties have changed hands on London's Bond Street, an area that has become a magnet for private investors.

A consortium of private Irish investors has sold 170 New Bond Street to two private American individuals for a sum in excess of the quoting price of£6.5 million. The building is let to Time Products until June 2024 at a present passing rent of£250,000 a year.

Another Irish investor has sold 37/38 New Bond Street to a consortium of American and Swiss investors for a sum in excess of the quoting price of£12 million. The building is let to Ermenegildo Zegna until December 2023 at a present passing rent of£500,000.

All the buyers were represented by CB Richard Ellis. Strutt & Parker advised the Irish vendors.