Laurence Kirschel's Consolidated Developments has brought to market a mixed-use development anchored by Z Hotels in the middle of London's Soho seeking £40 million or a 4.30% net initial yield.
Savills and Hanover Green have been appointed to sell the Moor Street Triangle site comprising an 85-bed Z Hotels hotel, seven residential apartments and a Le Bodega Negra restaurant.
The hotel is let to Z Hotels for a further 17.6 years, subject to five yearly index-linked rent reviews, while the restaurant unit is let to La Bodega Negra for a further 13 years.
The Moor Street Triangle scheme is located at 5-11 Old Compton Street, 13-17 Moor Street and 95-99 Charing Cross Road.
In May, Laurence Kirschel’s Consolidated Developments sold a consented hotel and theatre development in London's Covent Garden for around £40 million to Melford Capital Partners.