Clearbell acquires central London office block with overseas investors [corrected]

A Clearbell Capital managed fund has teamed up with three overseas co-investors to buy a £59m (€69m) office block in central London.

The value-add Clearbell Property Partners III bought the 70,440sqft 65 Kingsway asset with additional capital from institutions from the US, France and Finland.

The freehold grade II listed Art Deco office building was formerly the headquarters for Kodak.

Rob West, partner at Clearbell said: “Central London has performed beyond expectations given Brexit uncertainty. Overseas investors are attracted by the weaker pound in a Brexit context and by London’s strong fundamentals as the world’s most liquid real estate market.

“Supply-demand dynamics in the capital remain attractive. This co-investment proves that London remains an attractive location for inward investment.”

65 Kingsway is Clearbell’s most recent investment in London after the Sloane Club in October 2017.

An earlier version of this story misstated the size of the 65 Kingsway asset. 

 

Related images

  • 65 kingsway

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2540

    Asset class: All/Large Cap Equities.
    Asset region: UK.
    Size: The fund will be added to our guided fund range.
    Closing date: 2019-05-27.

  • QN-2541

    Asset class: Small/Mid-Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

  • QN-2542

    Asset class: All/Large Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

Begin Your Search Now