Feldberg Capital has acquired Ariel House in London for approximately £29m for its brown-to-green workplace fund Cora.
Ariel House, which is located on Charlotte Street, provides 23,820 sq ft of office space spread over eight floors, with a private roof terrace on the sixth floor.
The Cora fund targets energy inefficient assets in Central London’s growth locations underpinned by excellent connectivity and amenity.
In line with the fund strategy, ESG upgrades will be undertaken at Ariel House, including the replacement of gas boilers with an electrified heating system.
Luke Duckworth, fund manager at Feldberg Capital, said: “Ariel House, Cora’s third acquisition, fits squarely with our strategy of creating sustainable, best-in-class workplaces in prime West End locations, benefitting from strong occupier demand and favourable entry pricing. Situated on Charlotte Street in Fitzrovia, the asset complements Cora’s recent acquisitions in Bloomsbury and Covent Garden, and offers significant asset management upside.”
Savills advised Feldberg Capital and Crossland Otter Hunt advised the institutional investor vendor.
