Hines has quietly completed the sale of the freehold interest in The Burlian, 80 New Bond Street in London to National Lottery operator Allwyn for £195 million, reflecting a net initial yield of 3.69%, in a deal first tipped by CoStar News.
The deal has not been formally announced by either party but a note on Hines's website confirms it changed hands towards the end of last year.
The recorded seller in a Companies House document is HEVF 2 New Bond Street SARL with the vehicle transferring to beneficial owners including Allwyn founder Karel Komárek as well as other parties connected to KKCG, the Czech investment company founded by Komárek.
CoStar News first revealed that UK and global lottery operator Allwyn Entertainments was in talks to buy the building in August.
The building is fully leased after Hines, the global real estate investment, development and property manager, in 2024 secured an agreement with Abercrombie & Fitch to anchor the development on the famous shopping thoroughfare in London's West End.
Abercrombie & Fitch agreed a multi-year lease on the entire retail space of around 10,000 square feet across two floors. The building was bought on behalf of the Hines European Value Fund 2 in March 2020.
The former Next flagship store incorporates 31,000 square feet of offices, designed by Orms Architects. The offices, on the second to seventh floors, underwent a major refurbishment and extension and are now fully let. The office tenants are the purchaser Allwyn Entertainments, which has occupied the third and fourth floor since 2024, UPL and Cohen & Steer.
In February 2024, Allwyn took over as the fourth operator of the UK lottery on a 10-year contract. The group is part of a wider global lottery operator.
It was founded in 2012 by Komárek after he took on the then-bankrupt Czech lottery. Last year the group announced a merger with Opap, a Greek gaming firm, to become the second largest gambling company globally with a valuation of £13.8 billion.
According to Cushman & Wakefield, central London transactions reached £3.31 billion in the fourth quarter of 2025 across 68 deals, bringing full‑year volumes to £9.76 billion, a 61% increase on 2024 and 1% above the five‑year annual average.
It says larger deals returned with greater consistency, with 21 transactions over £100 million completing during the year. At year end, £4.19 billion of assets were available or at bids stage and a further £3.16 billion was under offer, pointing to what Cushman describes as an active pipeline of transactions early in 2026.
Knight Frank advised Hines and has not commented. Allwyn has not commented.