LONDON-Russian investor Grigory Guselnikov has purchased a single-tenant retail property leased by Rolex here in the One Hyde Park neighborhood. Vendors PGGL, the neighborhood developer, sold the building at 100 Knightsbridge for more than $21.4 million.
Rolex has more than 14 years left on the lease, and pays a yearly rent of $660,544, according to statement from Savills, which represented the seller. SJ Berwin, Nightingale Partners and Gilchrist Solicitors represented the buyer.
The property is located adjacent to the Mandarin Oriental Hotel. Jon O’Regan, an investment banker with Savills, said in the statement that this neighborhood is one of the best retail locations in the city. "The strength of the occupational market is attracting international investors looking for safe and secure long-term investments in an otherwise fragile and uncertain global marketplace,” O’Regan said.
He said that his firm is also seeking offers of more than $19 million for McLaren’s flagship store next door. The building, which McLaren recently leased for 15 years, will be on the market in September, O’Regan said.
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