DTZ Investors Sells Central London Building For Over £65M
Esas Properties purchased the freehold interest in 124 Theobolds Road in London for £65.75M. DTZ Investors was the seller; the fund is divesting assets as it re-invests in other sectors.
The 81k SF office building comprises a basement, ground and eight upper floors. The building underwent extensive renovations by Cable & Wireless as its UK headquarters, most recently in 2012.
The building is majority let to MediaCom Holdings until 2022. The Midtown area has a vacancy rate of about 2.6%, according to Savills.
Savills and Strutt and Parker advised DTZ Investors.