Hermes Sells Mayfair Offices

Property Week has reported that Hermes Real Estate has sold offices worth £145million in Mayfair’s Burlington Gardens and Clifford Street.

2/3 Burlington Gardens, comprising of 45,000 sq ft of office space, was sold for £75 million and 7 Clifford Street was sold for £70 million. Hermes Real Estate, which was named Property Fund Manager of the Year 2008 at the recent Property Week Awards, bought the properties in 2004 and managed a yield of about 4%.