Blackstone Real Estate Partners Europe III has completed the sale of Lacon London, 84 Theobalds Road, WC1, to a Middle Eastern private investor for £285m.
Blackstone acquired the 220,885 sq ft freehold property in July 2013 and following lease expiry of the sole office tenant in 2014, undertook a refurbishment and repositioning of the building.
It is home to tenants including TMT, automotive and legal sectors including Arriva and Exterion Media.
Anthony Myers, Blackstone’s head of real estate Europe, said: “The sale of Lacon London is testament to the ongoing success of our central London portfolio strategy. Lacon is a landmark building which has undergone significant refurbishment to reinvigorate the office space and secure major leases as the demand for premium office space in central London has remained strong.”
Blackstone was advised by Savills and JLL; and the purchaser was represented by CBRE and Dentons.
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