Back
News

DTZ Investment Management to sell Princes House

DTZ Investment Management has put Princes House, WC2, home to retailer Paul Smith, up for sale at £20m.

The firm said the building, comprising 46,087 sq ft of offices and retail space at 37-39 Kingsway, has the potential for redevelopment. Alternative uses include flats, a hotel or student accommodation.

Planning consultant DP9 has drawn up a planning report on refurbishing the property, including a new reception area.

Paul Smith has a lease on the ground floor expiring in October 2017, paying £132,500 per year. The next rent review is in November. The rest of the building is vacant.

Michael Elliot has been instructed to sell the building, which DTZ Investment Management bought from a private investor in 2006 for £20m.

joanna.bourke@estatesgazette.com

 

Up next…