Nick Leslau has told Property Week he expects an overseas investor from the Far East or Middle East to snap up Madame Tussauds.

Madame Tussauds waxworks

Waxworks of One Direction

Leslau’s Secure Income REIT put the world-famous tourist attraction on the market for £320m this week, following unsolicited approaches from a number of potential buyers. The asking price represents a yield of 4.75%.

“I don’t know the strict definition of a trophy asset, but if I had to guess I’d say Madame Tussauds was probably one,” Leslau said. “My guess is it will be sold to an investor from the Far East, or perhaps a Middle Eastern individual or group. It’s rare something like this comes to the market.”

Leslau expects the sale process to take between four and eight weeks.

Madame Tussauds represents 20% of Secure Income REIT’s portfolio of 28 assets, which also includes theme parks Alton Towers and Thorpe Park.

The freehold property on Marylebone Road in central London is let on a full repairing and insuring lease to Merlin Attractions Operations, the owner and operator of Madame Tussauds.

The lease runs for a minimum of a further 27 years with the option for the tenant to extend by up to a further 70 years upon expiry, bringing the potential tenancy length to almost 100 years.