07/01/2025
Tuckerman Commercial is very pleased to have completed the vacant freehold sale of this 20,000 sq ft office building at 5-7 Mandeville Place W1, Marylebone, on behalf of Dusseldorf-based aik Real Estate, for its largest institutional real estate fund.
The building, then the HQ of Dunhill, was purchased by aik in 2009 at a relatively low point in the market. The recent off-market sales process was highly targeted towards the development and owner-occupier market.
Dr Stephen Hinsche of aik commented ‘This first-class building is located in an excellent spot in the West End and is also architecturally impressive. Whilst the UK has faced challenges since Brexit, our investors are delighted with the result and with the investment team, who have created a return of 70% above the purchase price.’
The property was sold to a subsidiary of a UK-based Family Office, who intend to convert it into luxury apartments. Guy Passey MRICS of Londonsuper acted for the purchaser. Mark Fisher of Tuckerman Commercial acted for the vendor, with joint agents .
Tuckerman Commercial has a number of similar investment and development opportunities across the West End and South Bank with our sister company, .london. Please do get in touch for more information.