Almacantar completes purchase of 125 Shaftesbury Ave

Posted by: Victor Pardis on 5th September 2013
Located near the Royal Opera House and Covent Garden Piazza, the red brick building was built in 1982 and provides 190,000 sq ft of office and shopping space across ground floor and nine upper levels with a footprint of over an acre. 

It is believed that the property has been acquired on a freehold basis and is multi-let to a variety of tenants including Gucci, Yahoo! Europe and Lloyds TSB Bank. Investment Director at Almacantar, Hugh Sayer said, "125 Shaftesbury Avenue is an excellent addition to our portfolio in a part of the West End that is transforming rapidly. The building gives us short term income whilst offering exciting longer term development options that can capitalise on the area's improvement." 

Portfolio Manager, Justin Brown from BlackRock UK Property Fund said, “125 Shaftesbury has performed well during our ownership and we are confident this is a good deal for our investors. We will be looking to re-deploy the sale proceeds in core-style assets with good long-term income streams to help our pension funds and other institutional clients meet their financial goals.” 

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