A Ukrainian company has purchased one of the most pricey addresses in London, 1 Old Bond Street in Mayfair.
The address, which is home to Watches of Switzerland and Ralph Lauren, has reportedly been sold for £1.4 million
Property Week has reported that the price reflects a net yield of 3.8 per cent based on the rent of over £520,000 a year.
According to Colliers CRE’s central London retail market overview for this autumn, Old Bond Street is one of the most priciest locations in the capital to rent a shop.
It is thought that Watches of Switzerland pays a zone A rent of £400 in one unit and £425 in another.
Research from Jones Lang LaSalle showed that overseas investors spent an about £6 billion in UK property.
The number is over half of commercial property investment in the country, with UK property companies accounting for only £4 billion and private investors from Britain making up £1.2 billion.
