Seaforth Land has exchanged on the sale of its renovated 8 Bleeding Heart Yard at Farringdon’s 20-23 Greville Street, EC1.
The deal for the 35,000 sq ft building, struck with a Spanish private family office, is understood to be in the region of £52m, equating to a yield of about 4.3% and £1,500 per sq ft.
The building is let to Swiss Bank Julius Baer, which moved in earlier this year, with affordable workshop space let to local jeweller Queensmith.
Seaforth bought the building in 2018 and has since carried out an £11.4m refurbishment project designed by Amin Taha and Groupwork.
Seaforth chief executive Tyler Goodwin said: “Selling 20-23 Greville Street at such a strong price in the current market demonstrates the change in direction for occupiers seeking space with great design that their staff can connect with, rather than generic glass and steel boxes, and reconfirms Seaforth’s fundamental tenet that creative, experiential refurbishments – done right – is a highly attractive and resilient investment class for offices.”
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
Main image: Tim Soar
See which agents are doing the most deals in the London submarkets >>
