NFU Mutual sold a grade II flagship retail store at 24 Old Bond St. in London to the owners of Italian fashion label Max Mara for £141 million, Property Week reported.
The Maramotti family bought the 14,000-square-foot property through its Unity Re investment vehicle at a yield of 2.46%, the Feb. 14 report noted. The property is 85% leased to Salvatore Ferragamo as its flagship store, which has about 15 years remaining on its lease. Offices occupy the upper parts of the asset.
NFU Mutual had mandated that CBRE and Chapman Petrie market the asset.