London Offices

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ADDRESS 34 King Street, London EC2

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Location	City of London EC2	Investment Date	June 2011
Transaction Type	Vacant possession and major refurbishment	Purchase Price	£6.8m

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Transaction Summary / Opportunity

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Description: 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.

Opportunity: The building is in a poor state of internal repair and represents an opportunity to significantly reposition the building through refurbishment of the common areas and the office floors when vacant possession is obtained. There is 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.

Acquisition Method: Private Treaty prior to auction

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Value Added

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• A team of consultants were mobilised to ensure a speedy exchange of contracts and necessary due diligence on the property prior to auction
• Assistance was given to an overseas purchaser in a market where purchasing competition was strong
• Various strategies for ongoing management and improvement of the building were analysed and evaluated
• A team of project managers, architects and other consultants will be organised to effect a refurbishment that will be reflect the demands of prime city tenants in a rising market