Maurice Investments is to sell four office buildings in central London for a combined £122.5m.
The firm is seeking offers in excess of £87.5m for adjoining buildings Classic House and Bentima House at 168-180 Old Street, EC1 (pictured above), and bids of at least £27m for Wool + Tailor, a 26,448 sq ft building in Aldgate at 10-12 Alie Street, EC1.
It is also looking for around £8m for 55-66 Russell Square, WC1.
Wool + Tailor’s tenants include HLM Architects, while serviced office provider Business Cube occupies the Russell Square office block.
Bentima House and Classic House have seven tenants between them, including online community network Stack Exchange and two public houses, which provide a yearly income of more than £4.6m, equating to an average £50.60 per sq ft.
Classic House has existing planning consent to refurbish and extend the 46,431 sq ft building by 13,541 sq ft, but GPAD Architects has also produced designs for a new 145,000 sq ft, eight-storey office building on the site of both buildings.
Maurice bought a dilapidated Bentima House in 2013 for nearly £9m, according to Radius Data Exchange, and Wool + Tailor (formerly known as Michael’s House) in 2015 for almost £10m, as stated in Land Registry documents. The firm subsequently carried out major refurbishments on both.
Allsop has been appointed to find buyers for all four buildings.
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