Building Purchased By Amazon Property

Law firm Irwin Mitchell’s Real Estate team in London has advised British Land on the completion of the sale of 52 Poland Street in Soho to Amazon Property for £26 million.
 
The deal saw Amazon Property in a joint venture acquire the freehold of the building.
 
52 Poland Street is a 20,500 sq ft multi-let building over basement, ground and seven upper office floors. The ground and basement floors are occupied by Yo! Sushi and Lucky Voice karaoke bar.
 
Tim Roberts, Head of Offices, British Land said: “The expiry profile at 52 Poland Street means there is potential for vacant possession of upper parts in June 2015. The site attracted very strong interest, reflecting the strength and depth of the WE investment market. It is an opportune time to sell and focus on projects elsewhere in our portfolio.”
 
Chris Lanitis, Partner, Amazon Property said: "This is a strategic acquisition to add to our growing portfolio in an area where we see considerable growth prospects.”
 
Irwin  Mitchell Real Estate Partner Rupert Dowdell along with John Arey advised British Land.