50 Pall Mall, London is the newest addition to the Lazari Investments portfolio of prime London properties.
The attractive and rare freehold asset is situated in St James’s, an exclusive London submarket, widely accepted as one of the most prestigious addresses in the West End. Lazari paid £61million.
The commercial property was the original site of the exclusive Boodle’s Club, one of the oldest private members club in the world. The property recently underwent a full refurbishment and is currently multi-let to a diverse range of tenants.
“We are very pleased with the new addition to our portfolio, especially given the rarity of opportunities to acquire freehold properties in St James’s. We were the selected bidder, chosen above tight international demand for such a unique asset. We were preferred bidder as we gave the vendor both certainty of performance in precarious political economic times with a fairly tight time frame to exchange. We take a long-term perspective and look forward to the future with confidence.” said Andrie Lazari, Director of Lazari Investments, who led the transaction.
Zoë Protopapas, Head of Real Estate at Protopapas LLP, said “we are proud to have acted for Lazari on yet another interesting and challenging deal, involving such an iconic London property. This was exchanged and completed very quickly, demonstrating our team’s ability to act fast and efficiently, always acting in our client’s best interests and without losing sight of commercial reality”.