Landlord Shaftesbury acquires Soho leasehold for 27.5 million pounds

London-based real estate investment trust Shaftesbury has acquired a 200 year ungeared leasehold interest in the lower floors of 92-104 Berwick Street, Soho, for 27.5 million pounds.

The interest comprises around 15,600 square feet of retail space and around 3,600 square feet “suitable for restaurant accommodation”, all of which will be available from autumn 2022.

Shaftesbury purchased the leasehold from the administrator of Berwick Street Securities.

“We have always considered ownership of this frontage of over 250 feet at the busy southern end of Berwick Street, an important part of our long-term strategy for this popular street,” said Simon Quayle, executive director at Shaftesbury.

The acquisition takes Shaftesbury's ownership to over 50 percent of active frontages on Berwick Street.

Quayle continued: “With the recovery of the West End from the extended period of pandemic disruption now firmly established, the imminent opening of the Elizabeth Line, and Soho’s special appeal to visitors and workers, we are confident in the letting and long-term growth prospects for this exceptional location.”