Middle Eastern Investor Snaps Up Sullivan & Cromwell's Midtown HQ
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UBS Triton sold its Class-A building in Midtown at One New Fetter Lane to a private Middle Eastern investor for £69M.
International law firm Sullivan & Cromwell recently renegotiated its lease on the 101k SF asset, and will remain at the building until at least 2026.
Midtown remains attractive to overseas investors as new commercial development and infrastructure improvements deliver in advance of the arrival of Crossrail into Farringdon in 2018. The location already has prime transport links, being near Chancery Lane, City Thameslink and Farringdon.
Middle Eastern investment, in particular, has remained buoyant throughout the second half of 2016, deploying more than £1B into Central London since the EU referendum.
UBS Triton was advised by Tudor Toone. The buyer was advised by CBRE.