Maya Capital has bought a prime retail and showroom space on Fulham Road, SW3, for around £20m.
The deal, for 137-167 Fulham Road, represented a circa 9% yield. PGIM was the previous owner, according to data from EG Radius. It bought the freehold via its Pramerica Real Estate Investors vehicle in 2016 for £45.8m.
Brands at the property include OKA, Janus et Cie and Poltrona Frau.
Fulham Road, in the Royal Borough of Kensington and Chelsea, is considered one of the wealthiest areas in the world. It has luxury tenants including Chanel, Acne Studios and Carolina Herrera.
It has more recently become a destination for consumers seeking high-end homeware, with Clive Christian and Janus moving to the area.
David Pralong, managing partner at Maya Capital, said: “We continue to select the best assets in European cities to create value for our investors. We remain keenly focused on central urban locations where we continue to see substantial investment opportunity to improve the landscape of cities, having mandates to acquire value add offices, living assets, retail and urban warehouses.”
Knight Frank advised Maya Capital on the deal.
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