10 Bloomsbury 1800x1200
10 BLOOMSBURY WAY, WC1

VALUE
£36.4 million / NIY - 2.70% / £220 per sq ft

AREA
165,046 sq ft
 
PURCHASER
Munich Ergo Asset Management (MEAG)
 
VENDOR
The Crown Estate
 
CBRE’S ROLE
Acquisition

DESCRIPTION
CBRE acted for The Crown Estate on the disposal of Freehold interest in 10 Bloomsbury Way, the first time the interest had ever traded. Subject to a long leasehold to London and Regional with 108 years unexpired, the Freehold benefited from a significant ground rent providing secure long-term income in an area undergoing medium to long term transformational development.

Our grasp of the London long ground rent market along with our access to international capital was key in securing worldwide interest in the asset. Ultimately this enabled us to drive pricing through a best and final round of bidding and secure a price well in excess of quoting.