Sirosa Liberty Ltd, advised by international real estate advisor Savills, has bought the freehold interest of London department store Liberty for £41.5 million (approximately 46.3 million), reflecting a yield of 4.8%. Liberty will lease the flagship department store back and has agreed to pay £2.1 million per annum on a new 30-year lease.
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Liberty is an iconic London department store.
John Rigg, director at Savills, comments: "Liberty is an iconic London department store and the price and lease terms agreed made it a very interesting investment opportunity for our client."
Liberty was advised by Knight Frank. Solicitors Russell Cooke acted for the vendor.
Source: Savills
Liberty was advised by Knight Frank. Solicitors Russell Cooke acted for the vendor.
Source: Savills
