Kier Property and Investec Structured Property Finance have joined forces to acquire a £55m property in London…
The 34,000 sq ft building on Regent Street was built in the 1920s as a printing factory and, until recently, was occupied by the BBC.
Hayley Scott, at Investec, said: “This is a fantastic and unique opportunity for Investec Structured Property Finance to once again partner in joint venture with Kier.”
“The deal enables both parties to capitalise on the current lack of West End Grade A office space, as well as the projected rental growth and the Crossrail story.”
Investec will also provide debt as part of a £55m debt facility that includes funds for a major office development and refurbishment.
Leigh Thomas, Managing Director of Kier Property, said: “This purchase represents an excellent opportunity to acquire a freehold building in the heart of the West End.”
“We are delighted to complete this purchase in joint venture with Investec; a relationship which continues to go from strength to strength, as our portfolio grows.”
Kier Property and Investec Structured Property Finance have joined forces to acquire a £55m property in London….
Leave a comment