Thor lays down the hammer in West End
Thor Equities is close to agreeing a deal to acquire a prime London West End retail and office building from Columbia Threadneedle for £43m.
The US-headquartered investment house, which is in the middle of an expansion drive into European retail, is under offer to buy 147-155 Wardour Street at a sub-3% yield, according to a source familiar with the sale.
The mixed-use property, located near the corner of Broadwick Street and close to Oxford Street, comprises 27,500 sq ft across lower, ground and five upper floors.
The retail tenants in the building are The Hummingbird Bakery, L’ETO Caffe and The Gallery. Office occupiers include First Point Group, the corporate office of Hakkasan and games developer Mediatonic.
The purchase of the building would continue Thor Equities’ international expansion amid plans to plough £8bn into European retail.
The company’s holdings in London comprise 1 Dover Street, 145 Oxford Street, 105-109 Oxford Street and Bond Street House at 14 Clifford Street, as well as Burlington Arcade.
Columbia Threadneedle has sold the property on behalf of the Threadneedle Property Pension Fund, having acquired it for £17.35m from ING Real Estate.
The property is the fifth biggest holding in the £1.7bn pension fund, which also includes The Heal’s Building on Tottenham Court Road.
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