Global asset manager AEW has acquired an office repositioning opportunity at 95 New Cavendish Street in London's Fitzrovia district.
The transaction has been concluded on behalf of its recently announced discretionary separate account mandate for a German pension fund, which has a focus on establishing a value-add real estate portfolio in major European markets.
The asset currently comprises 1,921 square metres of office space arranged over lower ground, ground and four upper floors. The building, which was last refurbished in 1990, has planning consent for a comprehensive repositioning programme, including the creation of an additional floor with 178 square metres of new office space sobel Lee Editor Profile and a communal roof terrace.
Sustainability features will include a new LED lighting system, smart meters to monitor energy consumption, greenery on the roof terrace to introduce biodiversity, and dedicated entrances for cyclists - including cycle racks, showers and changing rooms. Designed to a high specification, the project will target net zero carbon, both embodied and operational, and BREEAM ‘Excellent’ and WELL Platinum certifications.
Source: propertyeu.info on the 12th of November, 2024
https://propertyeu.info/Nieuws/AEW-acquires-London-office-repositioning-opportunity/a5ba5f01-b8d1-4380-8ff2-cc5dfacbe44d