Two buyers have made a surprise acquisition of the Aurora scheme in London WC1. Olswang, the specialist media and technology law firm, has joined up with Minerva Corporation to buy the building in High Holborn. The joint venture is understood to have paid Galliard Homes £20m for the 16,722 sq m (180,000 sq ft) site.
Olswang, which occupies around 4,181 sq m (45,000 sq ft) at 90 Long Acre, WC2, and nearby buildings, wants to consolidate its premises at the site. Under the joint venture, Olswang will occupy the Aurora building with Minerva developing it.
A source close to the company said: “It will shock the market that Olswang is buying and not renting. The deal has been draped in secrecy.”
Olswang had been tipped to let some of the 15,828 sq m (170,000 sq ft) remaining space at the Mid City Place scheme, WC2.
The Allan Messing Consultancy acted for Olswang. DE&J Levy and Farebrother acted for Galliard.
EGi News 04/08/00
