Euro Real Estate has acquired 24 Savile Row in London’s Mayfair for around £90m.
The multi-let part freehold, part virtual freehold property comprises 29,766 sq ft of office and gallery space. The seven-storey building is rated EPC A and BREEAM Excellent.
Ralf Peter, managing director of Euro Real Estate, said: “We are extremely proud to have acquired this prominent and prestigious mixed-use corner building in the heart of Mayfair. The property boasts unique fundamentals including its bespoke architecture. The façade is a tribute to Savile Row’s tailoring heritage, clad in 10,000 hand glazed ceramic tiles.
“The three-dimensional crystalline glazes reflect and refract daylight, capturing differing moods and subtly changing the appearance and tone of the building, depending on the weather and time of day, like the fabric of a bespoke suit. We are excited to undertake our proactive asset management strategy in order to increase the highly reversionary rental tone within the building.
“The acquisition of 24 Savile Row is a perfect example of our business strategy to invest in trophy assets in European metropolises. It completes our fifth acquisition in central London and demonstrates our strong commitment to the UK’s capital city.”
BNP Paribas Real Estate, Avison Young, Mayer Brown and DLA Piper advised Euro Real Estate on the transaction.
