RW1, a newly created investment vehicle seeking to invest half a billion pounds in central London office assets, has acquired the fully-let OneThreeSix building for £60m (€70m).
RW1 said it has bought Native Land’s newly built 44,500sqft office asset on George Street in Marylebone.
RW1 was launched this month by Montrose Land, the private investment vehicle owned by Native Land founders Alasdair Nicholls and Jonathan Mantovani, alongside private Asian investors.
The firm targets forward purchasing assets under construction and directly undertaking value-add opportunities.
RW1 said it is actively looking to acquire high-quality office buildings in central and inner London. Acquisitions will include both third-party assets and future Native Land commercial developments.
Property developer Native Land will identify, acquire and manage all assets for RW1 going forward.
Finn Carew, managing director of investments at RW1, said: “OneThreeSix typifies the high-quality contemporary office developments that RW1 is looking to purchase.
”RW1 plans to build an investment portfolio of new-era workplace buildings, which meet the preferences of today’s occupiers for environmentally sustainable places designed for wellbeing, creativity, innovation, and collaborative working.”
Nicholls, partner at RW1 and CEO of Native Land, said the launch of RW1 and the appointment of Native Land as its asset manager reflects the strong personal connections “we enjoy with co-investment partners from Asia and the trust they place in us to find and deliver first-rate assets”.
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