Prada's London flagship site goes on sale for £30m
Sunday 03 October 2010
The former chairman of Allied Irish Bank, which was, in effect, nationalised by its government last week, is the latest landlord to put a store on London's Old Bond Street up for sale.
Lochlann Quinn, who chaired Ireland's biggest bank until 2003, has instructed property consultant Fineman Ross to sell 16 Old Bond Street with a price tag of around £30m.
Mr Quinn is selling the freehold of the building, which is the flagship store of luxury retailer Prada. Any sale would include the offices above. The total rent is more than £1m a month. It is expected to attract a lot of interest even though it is being sold at a fairly steep price. Recent sales on Old Bond Street have seen stores change hands at prices last seen before the recession.
Old Bond Street is considered recession-proof, but landlords elsewhere in central London are still marketing big properties despite price falls. A private Indian investor, advised by property services firm Michael Elliot, is selling 120 Holborn, for around £150m. While Invista Real Estate Investment Management and Delancey are thought to have approached several parties about a sale of their Rolls Building, the new home of the Royal Courts of Justice Commercial Court, for more than £300m.
- 1 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 2 Pictures show young Palestinian girl biting Israeli soldier trying to detain boy during West Bank protests
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 4 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...