Law firm Hodge Jones & Allen has sold its headquarters just by Euston station, NW1, to a private UK family office.
The purchaser paid £13m – a 5.8% yield – for 25,000 sq ft 180 North Gower Street.
As part of the sale and leaseback deal, the property will be let to Hodge Jones & Allen for 10 years. The initial rent will be £800,000 pa, equating to £32 per sq ft. The lease will be subject to 2.5% pa fixed rental uplifts.
Savills advised the buyer; Strutt & Parker acted for Hodge Jones & Allen.
joanna.bourke@estatesgazette.com
