Hines Liquidates New Bond Street 'Trophy' Asset in £195 Million Deal with Allwyn

Hines completes the sale of 'The Burlian' at 80 New Bond Street for £195 million. The mixed-use deal reflects a 3.7% yield as Allwyn Entertainments secures its London headquarters.

By: AXL Media

Published: Feb 23, 2026, 4:34 AM EST

Source: Bisnow

Strategic Value-Add and Exit Execution

The sale represents a successful exit for Hines, which acquired the site (formerly a Next flagship store) in early 2020 for roughly £130 million. During its period of ownership, Hines undertook a comprehensive "carbon-lite" refurbishment and extension, transforming the 41,000-square-foot building into a Class-A destination. The project involved preserving the historic facade while delivering high-specification office space across the upper floors and significant retail frontage on one of the world’s most expensive shopping streets.

Anchor Tenancy and Market Resilience

The asset’s valuation was bolstered by its strong occupational profile. In early 2024, Hines secured Abercrombie & Fitch as the retail anchor, with the fashion brand taking nearly 10,000 square feet across the basement and ground floors. The office component, comprising 31,000 square feet, is fully let to high-profile tenants including Allwyn themselves—who have occupied the third and fourth floors since 2024—as well as UPL and investment manager Cohen & Steers. This 100% occupancy rate provided the stabilized income profile required to achieve a sub-4% yield in the current interest rate environment.

Allwyn’s Growing London Footprint

For Allwyn, the acquisition marks a transition from tenant to owner-occupier for its primary UK headquarters. The Czech-owned lottery giant, founded by Karel Komárek, has rapidly expanded its presence in the UK since being awarded the 10-year license to operate the National Lottery in 2024. By securing the freehold of 80 New Bond Street, Allwyn consolidates its long-term operational base in the West End, effectively hedging its occupancy costs against future rent hikes in a supply-constrained micro-market.