The property consists of 43,000 sf of office space let to Marconi as its global headquarters, and three retail units totalling 7,300 sf let to Hermes, Ballantyne and Max Mara as their flagship London stores.
Stratreal has more than £1 billion ($1.4 billion) of real estate assets under management on behalf of overseas private clients, and it claims to have more than £500 million ($705 million) of additional capital earmarked for investment into the European and global property markets.
Jeremy Gates, the firm's Head of European Investment Advisory said: 'We are focusing on confidential off market acquisitions, in prime locations, let to blue chip tenants in the office, retail and hotel sectors in new or fully renovated premises throughout Europe. This acquisition is a prime example of such an investment. This high quality, substantially under rented investment provides a strategic location, has an excellent office and retailing floor plate which will translate into substantial potential rental growth and capital appreciation over the medium to long term'.
Steven Glancey & Associates acted on behalf of Stratreal. Healey & Baker advised the vendor and has been appointed as managing agent.
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