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Nabarro advises on the sale of Ferrari’s London flagship store in Regent Street

11 November 2009

Nabarro LLP has advised a client of CBRE Investors on the sale of the head lease interest in Mutual House, Regent Street, London W1 to a Hong Kong investor for circa £30 million. Part of the building is currently let to Ferrari for its London flagship store.

Nabarro has worked with CBRE Investors on the asset management and then sale of the property for 10 years. It let part of the ground floor to Ferrari last year.

The Nabarro team was led by real estate partner Simon Staite, and assisted by associates Will Forrest and Ian Craig. Mayer Brown International LLP advised the buyer and SJ Berwin advised the freeholder, Crown Estate.

Commenting on the deal, Simon Staite said:

“Acting with CBRE Investors, it has been great building to be involved with. A visit to the Ferrari store shows, as you would expect, a fantastic fit out. Whilst it is focussed on brand promotion and merchandising, I gather they have actually sold cars from there, as well as everything else for serious petrol heads. Its one of a number of Central London properties sold to inward investors who are attracted by high quality investment properties with attractive yields made more attractive by sterling's depreciation against stronger currencies.”

If you would like any further information or have any queries please contact:

Charlotte Collins-White
Lansons Communications
T +44 (0)20 7566 9706
charlottet@lansons.com