HIG Capital is joining forces with alternative investment firm Clivedale London to redevelop 20 Carlton House Terrace, a 160,000 sq ft (14,900 m2) office building in London’s St James' with a gross development value over £350 mln (€420 mln).
Clivedale obtained planning and started construction of the project in summer 2021. The project will complete end 2023 with tenants starting to move into the building from January 2024. The scheme is planned to be a Net Zero Carbon office.
‘This partnership illustrates Clivedale London's continued focus on execution of prime real estate assets, grounds up to world-class developments,’ said Sameer Gehlaut, founder of Clivedale London.
Riccardo Dallolio, managing director and head of HIG Europe Realty in London, commented: ‘We are delighted to complete this transaction in line with our strategy of investing in institutional quality value-add projects in central London. We believe this asset has the potential of becoming one of the best buildings in Mayfair and St. James's where supply-demand dynamics are particularly favourable for best-in-class office buildings.’
