London Investment Properties Track Record
Paddington Central, W2
July 1, 2022
VALUE
£694,000,000 / NIY - 4.50%
AREA
c. 970,000 sq ft
TRANSACTION DATE
July 2022
PURCHASER
GIC
VENDOR
British Land
CBRE’S ROLE
Disposal
DESCRIPTION
Having been involved with the campus for over a decade, CBRE is delighted to have advised British Land on the successful disposal of a 75% share in their Paddington Central campus to GIC.
CBRE undertook a highly targeted sales process engaging with only a select list of investors with the capabilities to undertake a transaction of this scale and complexity, and were complementary partners for British Land.
The joint venture comprises four standing office investments (including the surrounding retail and leisure element), the Gateway development site and surrounding moorings. The campus is home to over 60 occupiers with a combined WAULT of approximately 6 years. A future option was also structured on the 5 Kingdom Street development, a 440,000 sq ft tower scheme.
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Contacts
Ed Bradley
Head of Central London
Ella Johnson
Senior Director
Becky Stormer
Surveyor
Capital Markets
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