The wells&more development is a mixed-use commercial scheme on Mortimer Street, comprising 97,342 sq ft of Grade-A office accommodation across seven floors, as well as private terraces on the fourth and fifth floors, two retail units and a communal courtyard.

The offices are currently let to a range of occupiers including Heineken, Synova Capital and Lionsgate.

David Turner, chief investment officer at Feldberg Capital, commented: “This acquisition reflects our strong conviction in the central London office market, underpinned by extensive market research and occupational data.

•   The Finance Professional Show 2025: The Video
•   Henry Boot adds £56m of assets to Feldberg JV
•   Feldberg and Henry Boot secure £54m for I&L platform

“The combination of attractive entry yields, significant day-one rental reversion of typically 20-30% and the potential for further rental growth of more than 25% over the medium term creates a compelling risk-adjusted investment case.

“With many of the leading research houses now forecasting an inward yield shift over the next five years, the outlook for investors is becoming increasingly positive.”

Jamie Acheson, head of UK investment at Feldberg Capital, said: “wells&more is a fantastic building in a prime growth area, which perfectly embodies our investment thesis for Central London.

“It is a pleasure to be working alongside Balder on this transaction — a long-standing client and valued partner whose vision and conviction in the central London market is closely aligned with our own.”