Richardson, advised by RCL Partners, has acquired two prestigious central London offices as part of an ever-developing real estate portfolio.
The offices, based in Mayfair and ‘Midtown’ - between Bloomsbury and Holborn – offer ‘defensible’ attributes in the current real estate investment climate.
The Mayfair office, located at 31 Curzon Street, was purchased from Genting Casino. The property, sold with vacant possession, will be refurbished with design-led architectural practice George and James Architects now appointed. Cushman and Wakefield advised RCL Partners and Savills acted for Genting.
Mark Morgan, Head of Real Estate at RCL Partners said;
“Our plan is to carry out a very high quality best-in-class office refurbishment which will also necessitate some internal re-arrangement to create further floorspace. We would anticipate completing the refurbishment works for late Autumn 2023.”
The second acquisition, 17 Bedford Row, sits adjacent to Gray’s Inn in a renowned legal enclave and what is fast becoming one of Central London’s key business districts. It was acquired from clients of Mellersch and Harding, with the business plan being to hold the asset as an investment for income in the short-to-medium term while implementing an outstanding rent review.
The London acquisitions join a diverse and wide-reaching Real Estate portfolio for the Richardson family office, which includes interests in the McArthurGlen West Midlands Designer Outlet Village, the Tower Works development in Leeds city centre and the
£300 million Newcastle Gateshead Quays waterfront arena, conference and exhibition centre scheme in the North-East, which will create over 2,000 jobs in the hospitality and leisure sector.
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