Bywater Properties has completed the acquisition of 34 Foubert’s Place in London’s West End from UK Commercial Property REIT for £22m.
The 20,350 sq ft period office building is located near Carnaby Street. JLL advised UKCM on the sale and Hanover Green advised Bywater on the acquisition.
Patrick O’Gorman (pictured), CEO of Bywater, said: “Our acquisition of 34 Foubert’s Place fits in with our plans to enhance our property portfolio across the UK with a focus on outstanding assets in key locations. We remain committed to our vision of delivering future-facing buildings with minimum impact on the planet – 34 Foubert’s Place will play a key role in helping us achieve this and speaks to our focus on retaining existing buildings where possible and improving their sustainability qualities.”
Will Fulton, lead manager of UKCM at abrdn, added: “This sale is in line with our strategy to sell assets where it’s accretive to earnings to recycle proceeds into paying down the company’s floating rate revolving debt facility.”
