Alan Sugar puts his £120m Mayfair properties up for sale
LORD Alan Sugar’s real estate firm is to sell off three properties in Mayfair, with a pre-crisis price-tag of £120m.
Amsprop, managed by Lord Sugar’s son Daniel, has decided to finally cash in on climbing property values in the West End after several offers in recent months.
Daniel Sugar said: “We have received unsolicited approaches from three parties but we decided it was best, and the right approach, to appoint a property adviser and see where the market is at. These properties are unique Mayfair freeholds.”
Property services firm Michael Elliott has been appointed as selling agent.
The buildings, on Old Bond Street, Albermarle Street and Sackville Street, house a mix of retail, office and residential space. Lloyds TSB, Conde Nast and jewellers Asprey & Garrand are among the portfolio’s long-standing tenants.
Amsprop would not comment yesterday on what the sale means for the firm’s portfolio in the City, which includes several properties on Bishopsgate, York House on Queen Victoria Street and 4 St Paul’s Churchyard.
Parent company Amshold’s results for the year to 30 June said the value of its property portfolio fell by £65.2m to £253.7m.