- 1 Minute Read
- 17th April 2012
Manchester United's London HQ Sold for £166m!
Stratton House, the London headquarters for iconic football club, Manchester United, has been sold for £166m – a price which reflects £1,670 per square foot and a net yield of 4.2%.
The West End of London Property Unit Trust (WELPUT), which is managed by Schroders and advised by Grafton Advisors, sold the Mayfair office to a private European family.
Manchester United’s London HQ, which is located opposite Green Park and the famous Ritz Hotel on Piccadilly, was purchased by WELPUT in 2005 for £82.5m. The trust refurbished the 108,000sqft office space within the Grade II listed building, bringing it up to ‘Grade A’ office standards. There are currently 12 commercial tenants and a luxury residential penthouse apartment within Stratton House.
The £166m sale highlights the increased demand from overseas investors and London’s continuing status as a global safe haven, even in the recent economic downturn, reinforcing the notion that West End office space continues to be a safe bet when it comes to European and International investors.
To find out more about office space in the West End, talk to Search Office Space today on 0800 524 4649 to discuss your requirements.