DTZ Investors acquires landmark West End property

DTZ Investors purchased a significant property in London's West End for £58 mln (€66 mln) as part of an off-market transaction. 

West End property - DTZ Investors

The site on 120–134 Tottenham Court Road, 48–50 Grafton Way, and 5 Warren Street, London W1, and spanning 0.40 hectares, includes a hotel and several retail units, totalling about 16,218 m2. 
The main tenant is a 330-room Radisson Blu hotel, which has a long lease until 2163 and is currently undergoing a £7.5 mln (€8.6 mln) renovation. The retail space, approximately 2,449 m2, houses various well-known brands like Tesco, Boots, Starbucks, Paul, and McDonald's.
This acquisition is expected to be very profitable due to guaranteed rent increases from the hotel lease and potential market value growth, especially with the ongoing redevelopment of Euston Station nearby.
Tony Gibby, senior director at DTZ Investors, commented: “This acquisition provides long-term, inflation-linked income from a prime West End location. The combination of a landmark hotel and resilient high-street retail offers both secure income and asset management potential, aligning with our strategic objectives.”
DTZ Investors received advice from Simon Ewart Perks at RX London, Savills, and Forge, while Knight Frank advised the vendor.