Major Investment deals across Central London

Last month saw a number of large investment deals, highlighting the strength of the London commercial market in spite of the prevailing economic and political concerns.

The Howard de Walden Estate has recently completed the purchase of 7-10 Chandos Street in the West End for approximately £68m from Wesleyan Assurance Society. It’s a multi-let building and is comprised of 49,500 sq ft of office accommodation, from the basement to the seventh floor. It was the first time in 50 years that this coveted space has been available on the market and it was snapped up quickly by the de Walden Estate, which is currently diversifying its portfolio across the West End.

Another large West End deal saw Thor Equities’ acquisition of 1 Dover Street for £47.2m. The former hotel comprises approx.. 23,000 sq ft of prime retail and residential space, and is home to world-famous Mahiki nightclub.

In the City, 6 Bevis Marks was recently sold by Axa Investors and Blackrock to a private client for £220m. The development has been newly refurbished and is almost fully let. it represents a huge deal in the City market, especially considering the uncertainties in the investment market at the moment.

Eugene O’Sullivan, Director at tenant acquisition specialists Morgan Pryce, believes that the deals are a positive note in the market: “With political and economic uncertainties gripping the investment market, the recent, large volume investment deals are a hugely positive sign. Until June 23rd we may still see investors holding off on acquiring large scale opportunities.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.