Topland Group has sold a listed five-storey office building in the West End of London for close to £21.5 mln (€27.5 mln).
Topland Group has sold a listed five-storey office building in the West End of London for close to £21.5 mln (€27.5 mln).
Hend House, a 1,350 m2 Grade 2 building on the corner of Shaftesbury Avenue and Charing Cross Road, was acquired by the Medical and Dental Defence Union of Scotland (MDDUS).
Since October it has been the headquarters of Star Wars creator George Lucas’s multimedia company Industrial Light and Magic, which occupies it on a 10-year lease. The building was empty when Topland acquired it 16 months ago.
Mark Kingston, managing director of Topland, said: ‘We leased the entire building to a quality tenant and then took advantage of the strength of the investment market.’
CBRE and lawyers K&L Gates acted for Topland and Daniel Watney for the buyer.
For more on the prospects for the UK real estate market, see the article and video interviews from our Outlook 2015: Europe/UK & Asia Capital Flows investment briefing.
