Lambert Smith Hampton (LSH) - London, 55-59 Oxford Street, London

Date: 12 Mar 2010

Oxford Street property sold for £8.5 million and net initial yield of 4.78%.

Acting on behalf of a private investor, national commercial property consultancy, Lambert Smith Hampton (LSH) has recently advised on the purchase of 55-59 Oxford Street, London W1.

The prominent corner property was brought by a private investor for £8.5m reflecting a net initial yield of 4.78% net initial yield. The ground floor retail is let to Starbucks (ground floor) until 2023 and the upper floors are let to language school, Eden House College, until 2013.

The property, which totals circa 6,820 sq ft is located on the corner of Soho Street and Oxford Street and is set to benefit from the substantial improvements in the area associated with the arrival of Crossrail.

Hugh White, Director in LSH's London Investment team said: "The current shortage of stock in the market place has made it difficult for investors to acquire prime assets. In order to overcome this problem we created an off-market opportunity by directly approaching the landlord. The client was therefore delighted with their successful purchase and the unique position we created for them."

55-59 Oxford Street, London

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