Hines acquires prime midtown block for redevelopment

Hines acquire prime midtown block for redevelopment.

Global developer Hines has acquired a circa 70,000 sq ft office block in High Holborn London WC1, with plans to redevelop and create a state-of-the-art commercial space. The building, Chichester House at 278 High Holborn, is a 1960s office and retail block, and has been acquired for the Hines European Development Fund II, a Delaware Limited Partnership that invests in real estate development and redevelopment projects in Western Europe. The building was bought from wholly owned GE subsidiary Bishopswood Properties, who were advised in the sale by Orchard Street Management and Jones Lang LaSalle.

Andrew Reynolds, director of Hines, said:

“High Holborn is prime commercial territory where new levels of rents are being achieved. This site offers enormous potential to redevelop and we are delighted to have secured this opportunity in a strongly competitive London marketplace. We now look forward to working with our retained advisers to create a high-quality commercial development to fulfil the demand for top-end office space.”

For media information, contact Marion Hardman at Four Communications on 0870 066 8738 or marion.hardman [at] fourcommunications.com (marion[dot]hardman[at]fourcommunications[dot]com)