Group Says £62.5 Million Price is a 25% Discount to Asking Price in June
Darin Partners has bought 6 Duke Street, a multilet office and gallery in London’s St James’s for £62.5 million or a 4.27% net initial yield.
In a LinkedIn post Darin, an investor on behalf of global private clients, said the price paid reflects a discount of 25% from its June 2022 asking price.
The building has been bought from Abrdn. It comprises 27,300 square feet of offices and 7,700 square feet of gallery space. The offices are multilet with the 4,400-square-foot fourth floor vacant.
Darin Partners chief executive Dave Bell posted on LinkedIn that the building had been bought for long-term capital appreciation, and it was now focused on driving value, “through active asset management”.
Darin was advised by RX London; CBRE advised Abrdn.