HGI has acquired a prime London retail property, 120 Wilton Plaza, for approximately $8.75 million.
120 Wilton Plaza is located just minutes away from Victoria Station – the second busiest railroad station in London. The property, totaling 7,006 square feet, encompasses three ground floor retail spaces occupied by two popular restaurants and a storied bookbinder. The property is 100% leased.
Harbor Group President T. Richard Litton Jr. said his firm was able to capitalize on the uncertainty surrounding the Brexit vote to get an 8% discount on the purchase price. "At the same time, we believe London retail properties will deliver long term value to investors. People will continue see it as a desirable place to live and do business, and businesses will continue to view it as a valued location.”