1-3 Upper James Street brought to market
JLL and Michael Elliott appointed on sale of prime Soho investment opportunity
Topland and Enstar Capital have appointed property advisers JLL and Michael Elliott on the sale of the long leasehold investment of 1-3 Upper James Street, Soho, W1. Offers are invited in excess of £38.5m, reflecting a net initial yield of 4.2%.
1-3 Upper James Street is home to one of Soho's most fashionable restaurants, Bob Bob Ricard at ground floor and basement level, totaling 7,309 sq ft. The five upper floors, comprising 18,930 sq ft, are occupied by a single tenant, Phonographic Performance Limited – a UK based music licensing company.
The total passing rent for 1-3 Upper James Street is £1.73m per annum, with a weighted unexpired lease term in excess of 12 years.