2 Park Street is held by way of a long leasehold with c.98 years unexpired from Grosvenor Estate. There is a head rent gearing mechanism of 15% rents received, with a minimum base rent of £432,500 per annum. Offers in excess of £63,000,000, subject to contract and exclusive of VAT, are invited for 100% of the share capital in the SPV owning the long leasehold interest. This reflects 5.70% NIY (on the topped up income) and a very low capital value of £1,317 per sq ft.