The Retail and Leisure team work closely with their clients to identify key areas of interest. Whether it is a retail parade in a prime highstreet location or a hotel in a major City, Harris Associates lives up to their creative slogan in order to maximise value from core investments to assets with value-add potential.
This prime Soho 23,000 sq ft office and restaurant building was purchased for our clients Hermes Property Unit Trust in 2012 for £16m.
Value add initiatives were put into play which included planning being granted for a change of use to Hotel and private residential.
Harris Associates then sold the assset off market in 2020 to the owner operators of Mortimer House, a dining and members club for £36m which equates to a cap value of £1,565 psf.
The Asset was in need of complete refurbishment.
The iconic Bafta and Princes House are located in the heart of St James’s. Well known as an area favoured by many corporate headquarters, the building also houses Princess Arcade located on the ground floor which supplies the area with excellent shopping and restaurant facilities.
Communications are superb with Piccadilly Circus and Green Park underground stations both within easy walking distance providing access to Piccadilly, Bakerloo, Victoria and Jubilee lines.