Kuwaiti investor gets go-ahead for London office revamp

A Kuwaiti investor’s plans to revamp its first London real estate investment have been given the go-ahead. Soor Capital bought 23-26 Austin Friars, EC2, for £39m in 2018, marking its entrance to the UK market.  Now the City of London Corporation has signed off proposals to refurbish the 55,850 sq ft, seven-storey block. The project will include adding more office space by infilling the atrium as well as adding a pavilion at roof level, installing a terrace area and improving the facade of the building. The building is let to IWG-owned services office company Avanta. A planning statement for the revamp said the plans “seek to reposition the building to offer top tier sustainable office space to fulfil the expectations of current market demands and attract a vibrant tenant profile within this prime London location”. View office availabilities in the City core submarket >>