Forsters advises F&C REIT on sale of prime Kensington investment
Forsters has acted on behalf of F&C REIT Asset Management in relation to the sale of the freehold interest in 160 – 166 Kensington High Street for £26.4 million.
The mixed use property is prominently located in one of the West End's most popular shopping districts and comprises retail space let to Argos and Metro Bank, recently refurbished Grade A first floor office space let to Mind Gym and residential accommodation above. The investment has a current total annual income in excess of £1.25 million.
Joanne Wilkes, Head of In Town Retail at F&C REIT, commented:
“This is a prime central London holding, offering a secure income stream for the investor. The building has undergone substantial refurbishment during the last two years which has generated significant growth in value.
The disposal demonstrates the strong investor demand for central London retail properties and allows for capital to be deployed into new opportunities to provide a higher income return for our client.”