Commercial property investment advisor Michael Elliott LLP has acted on behalf of the Royal Institute of British Architects with the sale of 76 Portland Place, London W1.
Built in 1950, the building has 21,000 square feet of offices. It was refurbished in 2014 and is held leasehold with 32 years unexpired at £2,000 per annum fixed ground rent, the company posted on LinkedIn. The Howard de Walden Estate, the freeholder, acquired 76 Portland Place for £11.75 million.
After receiving initial instructions in May 2022, Michael Elliott put together a team, including White Red, Lichfields UK, and Point 2, to carry out a pre-application and feasibility study. It received a positive response from Westminster City Council.
In January, Michael Elliott carried out a targeted marketing campaign for the sale of the property.
