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Vendors Sells Rolex Store for $21M

LONDON-The store is located in the new One Hyde Park neighborhood, built adjacent to the Mandarin Oriental Hotel.

By Robert Carr | Updated on August 24, 2011

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.

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