160 Aldersgate, London
Creation of a “trophy” headquarters office following full refurbishment, pre-leased to a leading international law firm.
- Comprehensive refurbishment of a City of London office building into a 217,000 sq ft trophy headquarters for an international law firm.
- Centrally located in a highly desirable submarket that had historically priced at a premium to surrounding submarkets.
- Acquired through a consensual bank-led process following a CMBS default, requiring multiple approvals and highly complicated transaction structuring.
- Completed refurbishment at low all-in cost, significantly below long-term pricing.
- “Back-to-frame” refurbishment included replacement of the façade and MEP services, insertion of an atrium and reconfiguration of the entrance.
- Sold to Union Investment in November 2017 with a 20-year lease to the occupier.