Private real estate firm Global Holdings Group, which specialises in office, hotel and residential investment, has acquired the Frith + Bateman building in Soho, London.
Financial details were not disclosed.
Global Holdings Management Group, which develops, advises and manages the real estate assets of Global Holdings Group, said that it saw an 'immediate opportunity' to reposition the office and retail space.
According to the firm, the refurbishment will 'reinstate the building’s Soho charm', upgrade the building to modern standards with desirable amenities, and improve the environmental credentials of the building.
The acquisition builds on a series of value-add deals for Global Holdings Group, including 1 Hanover Square, 16 Whitfield Street, and Eden House.
Josh Lawrence, chief executive of Global Holdings Management Group UK, said: 'We are delighted to have completed the acquisition of another attractive mixed-use building in Soho.
'We are long-term investors in Soho because it is well-connected to public transport, and it is a fun place for people to work: where else do you have such a huge variety of quick lunch options alongside an abundance of bars and restaurants to go out with friends and colleagues after work?
'It is clear that there is a real shortage of high-quality workspace in Soho. We will move quickly to use our in-house design studio and asset management team to turn Frith + Bateman into must-have office and retail space.'
