DTZ Investors has bought the five-building Cowcross Estate in Farringdon, EC1, for £43.7m.
The estate occupies 1.6 acres close to the Farringdon Crossrail station, which is presently under construction.
Once opened in 2018, the station, which also incorporates mainline and Underground services, will make the area one of the best-connected in London.
The average unexpired lease term on the five shops, two restaurants and offices is nine years and rents are expected to rise substantially following the opening of Crossrail.
The buildings, which also house three flats, total 35,400 sq ft and have frontages on Cowcross Street, Britton Street and St John Street.
Tenants include Starbucks, Byron Burger, Leon, Itsu and GDF Suez.
Andrew Hogge, director at Cyril Leonard, which advised the private vendor, said: “Having purchased the estate over 20 years ago, our client has made considerable improvements and is now taking advantage of the significant demand for mature mixed-use investments in this location.”
Savills acted for DTZ Investors.
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