DTZ Investors acquires £58m West End retail and hotel block
DTZ Investors has acquired a freehold hotel and retail block in London’s West End for £58m.
Located at 120-134 Tottenham Court Road, 48-50 Grafton Way, and 5 Warren Street, the asset extends to approximately 174,575 sq ft and is anchored by a 330-room hotel.
The hotel is let to Radisson Blu on a long lease until 2163, subject to fixed five-yearly uplifts, and the tenant is currently investing around £7.5m into a phased refurbishment.
The block also includes approximately 26,365 sq ft of retail space across 12 units, let to a mixture of tenants that includes Tesco, Boots, McDonald’s, Starbucks, Caffè Nero, Paul, Rosa’s Thai, and Wasabi.
Tony Gibby, senior director at DTZ Investors, said: “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.”
RX London, Savills, and Forge advised DTZ Investors, whilst Knight Frank advised the vendor.