In Q1 2023, Capital Real Estate Partners onboarded as the asset managers for 4 Central London assets on behalf of the Shaw Foundation, part of a Hong Kong registered charity.
The assets comprise of 3 multi-let office buildings and 1 residential building let as serviced apartments.
88 Wood Street, EC2 – 238,004 sq ft office building. Multi-let to 8 tenants with c.68% of the building vacant. Our primary objective on this asset was to get it fully stabilised and income producing.
8-10 Hanover Street, W1 – 26,992 sq ft office and retail building. Multi-let to 6 tenants. Within 9 months, CREP fully stabilised the assets having concluded 3 leasing transactions, pushing the WAULT out to approximately 6 years.
52 Conduit Street, W1 – 16,526 sq ft office and retail building. Multi-let to 4 tenants with 3 floors coming vacant in 2023. The vacant floors are being refurbished to a CAT A+ specification and are due to be marketed in Q4 2023.
Shaw House, W1 – 15,446 sq ft residential building single let to a serviced apartments operator.