• Acquisition of a 5-floor, 39,446 sq. ft. building in Covent Garden, central London for £13.3 m.
  • Unusual building (for a period building on famous street in Conservation Area, Covent Garden) due to size, location, 3 independent elevator shafts and large floor plates. Original underwriting of office use with potential residential conversion.
  • Patron determined alternate plan for student housing due to dramatic worsening of the office market and failure of local partner to convert existing office into residential.
  • Planning authorities liked change of use and allowed additional 2 floors to the top, bringing total square footage to 46,000 sq. ft from 39,500 sq. ft.
  • Agreed all terms and signed for long term lease with the London School of Economics.
  • Agreed and signed detailed fixed price contract for construction.

  • View Investment Memorandum