21 Tothill Street, SW1All Properties
21 Tothill Street was purchased on behalf of WELPUT in 2010 for £29 million. At purchase, the building was let on 3 leases to the same occupier for a further 5 years.
Grafton Advisors regeared the leases onto a single lease to ensure there would be either vacant possession or a lease extension of the whole at the end of the lease. Later, the team prepared proposals for a refurbishment and agreed a surrender with the tenant.
The building was sold in 2015 for £55 million to Whitbread for a hotel, crystallising a profit in excess of that expected to be achievable in carrying out a refurbishment, whilst avoiding development risk.
|Size:||65,000 sq ft (6,000 sq m)|
21 Tothill Street, SW1