An affiliate of Tilad, a Gulf-based multi-family office, has bought Coco-Cola’s former London headquarters for around £80m.
The investor bought 1 Queen Caroline Street, W6, from a fund advised by Brockton Capital and Landid.
The deal is Tilad’s first purchase in the UK market; the firm has already acquired several assets in Europe.
The asset comprises more than 83,000 sq ft of office space and under the fund’s ownership has recently undergone a £14m refurbishment. It now features an urban roof garden and shared clubhouse on the sixth floor.
The multi-let building’s occupiers include US television network AETN UK, which owns the History Channel, and Swedish online betting software company Kambi.
CBRE figures showed there was £1.8bn investment from Middle Eastern companies into London in 2016, two thirds of which was post-EU Referendum.
Middle Eastern interest continues this year, largely bolstered by the weakened value of the UK pound, with investors from the region having bid on trophy assets such as the Cheesegrater at 122 Leadenhall Street, EC3 and 105 Wigmore Street, W1.
CBRE acted for the purchaser; JLL advised Brockton Capital and Landid.
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