Real estate investor and asset manager TSP has acquired 79 Clerkenwell Road from LaSalle IM for £5.75m to expand its flex platform.
The deal for the 10,000 sq ft building, which is located in the heart of Clerkenwell, was financed by Investec Bank. TSP will now retrofit 79 Clerkenwell Road into a highly sustainable office, targeting BREEAM Excellent and EPC A energy rating.
Zac Goodman, CEO and founder of TSP, said: “79 Clerkenwell is a fantastic opportunity for TSP to further develop our flex offering. The asset will be operated like a clubhouse, with a house manager and incredible common amenities, providing a unique offer which at to the marketplace. As always, we will strive for the best possible sustainability accreditations and ensure that the building is in a better place following our acquisition.
“We continue to believe that our vertical integration of investment and management gives TSP a competitive edge to deliver these award-winning assets and gradually refurbish our way through London’s older stock. Whilst market conditions are challenging, they also bring opportunity and we believe the right product in the right location will continue to thrive in what is Europe’s most diverse and exciting city and we continue to actively seeking opportunities and grow our platform.”
TSP was advised by Michael Elliot on the transaction.
