Case study
35 King Street
A freehold building in an absolutely prime location in the City of London, providing approximately 16,000 square feet of office accommodation on basement, ground and five upper floors. Previously occupied by the Banco do Brazil.
Location: 35 Kings Street, London EC2
Investment date: June 2011
Opportunity: Comprehensive office refurbishment
Purchase price:: £6.8m
Opportunity
The building was in a poor state of internal repair and represented an opportunity to significantly reposition the building through refurbishment of the common areas and the office floors upon vacant possession being obtained.
There was also an opportunity to gain further net floor area through imaginative design and technical improvement. The building is suitable for multi –tenancy or single occupation.
Value added
A team of consultants were mobilised to ensure a speedy exchange of contracts and necessary due diligence on the property prior to auction in a market where purchasing competition was strong.
A team of project managers, architects and other consultants were organised to evaluate a number of refurbishment options.
Planning permission was obtained for change of use of part of the Ground Floor and an improved facade. Interior remodelling increased the floor area by 8% and created a vastly improved and larger reception lobby.
Refurbishment was completed on time and within budget. The building was fully let to a number of good quality tenants at higher than budgeted rents within 9 months of completion.
Our core objectives
We strive to produce projects of exemplary and world class design but we are fully mindful of our environmental responsibilities and will always try to incorporate sustainability and biodiversity where possible.
