Address: Farringdon Rd, London EC1
Size: 230,000 sq ft
Project:
- Acquisition of a 38,000 sq ft multi-let office building held on a long lease from The City Corporation
- Light touch refurbishment of common parts and individual office suits as needed to generate income return
- Planning consent obtained for redevelopment to provide Grade A office building of approx 230,000 sq ft NIA to include adjoining site owned by The City Corporation
Success:
- Planning consent secured for 230,000 sq ft NIA
- Property sold to a major UK developer
- Very high equity multiple driven by the planning consent and the Crossrail effect
Current Position: Sold
