Fore Partnership, a real estate investment club for family offices and private investors, has sold its speculative office project by the River Thames in central London for £50.95 mln (€72 mln).
Fore Partnership, a real estate investment club for family offices and private investors, has sold its speculative office project by the River Thames in central London for £50.95 mln (€72 mln).
Nesta, a charity with a mission to support innovation for the public good, has acquired the building, View 58 at 58 Victoria Embankment on the north bank of the Thames in Midtown, for its own occupation. The building is designed to exceed BREEAM’s ‘Excellent’ sustainability rating.
When completed in August 2016, View 58 will provide 48,000 sq ft (4,500 m2) of Grade-A office space and is being delivered by Fore with its joint venture partner, Kier Property.
Nesta will use the building as its headquarters, moving from its current office at Plough Place in the City of London.
Basil Demeroutis, managing partner of Fore, said: 'The sale delivers a very strong return for our investors and proves that sustainable buildings enhance returns.'
Ingleby Trice advised Fore on the sale and Nesta was advised by CBRE. Letting agents were Savills and Ingleby Trice.
