Orchard Street Investment Management, the specialist commercial property investment manager, has completed on the acquisition of 33 Golden Square, Soho, W1 on behalf of St James’s Place Wealth Management, from a client of BNP Paribas for £23.5 million.
The 17,198 sq ft office building, which is arranged over a lower ground, ground floor and over six upper floors, is currently fully let to Clear Channel UK as its UK headquarters on a lease which is due to expire in June this year.
Situated in the northwest corner of Golden Square, Soho’s prime office location, the building provides a modern, open plan office space in the heart of London, ideally situated close to central London tube stations and a short distance from the new Tottenham Court Road Crossrail interchange.
Originally constructed in 1989, the asset provides Orchard Street with the opportunity to implement a number of value accretive asset management initiatives in this highly desired London location.
Gary Felce, Partner at Orchard Street, commented:
“This core office building, located in an area of Central London that has become increasingly sought after as the destination of choice by tenants in the media, TMT, corporate and financial services sectors, provides an excellent opportunity for us to reposition the asset for further growth.”
Hanover Green represented Orchard Street and BNP Paribas represented the vendor.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £4 billion.