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Case Study

78 St James’s Street

​The West End Investment Team has advised on the acquisition of on behalf of The State Oil Fund of Azerbaijan (SOFAZ).

The landmark building is widely considered to be one of the most prestigious properties within the West End offering a unique mixture of high quality office accommodation with period reception and meeting rooms.

SOFAZ purchased the long leasehold interest from RREEF in a confidential off market transaction for £177.35 million, reflecting a net initial yield of 4.50% and a capital value of approximately £1,500 per sq ft.

The purchase represents SOFAZ’s first direct real estate purchase and is the beginning of their planned £1 billion investment into direct global real estate.

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