Unica Capital has acquired a six-storey office block in London’s West End.
The property investment company paid CBRE Investment Management £11.5m for the freehold to 167-169 Wardour Street, W1.
The 13,628 sq ft building is fully let and includes a restaurant at basement and ground levels occupied by Tamarind Kitchen.
Office tenants include sports management agency CAA Base, documentary company Rogan Productions and London Power Networks. CAA Base is the largest office tenant and has recently renewed its lease.
The purchase is part of Unica Capital’s core strategy to build a portfolio of stable, income-generating residential and commercial assets located in the capital’s best postcodes. The property will join its £380m portfolio, which includes 2-4 Cork Street, W1, 55-56 Poland Street, W1, and 35 Great Smith Street, SW1, which was acquired in the middle of 2023.
Byron Baciocchi, founder and chief executive at Unica Capital, said: “This acquisition epitomises our approach to sourcing the best buildings in prime locations with long-term appeal.
“London is currently an attractive buyer’s market for those who can act quickly and decisively on the right opportunities. Despite previous broader economic uncertainty, the combination of stagnant or falling prices and growing tenant demand make prime London property an enticing prospect for investors including family offices and ultra-high-net-worth individuals.”
He added that the acquisition marked the beginning of a “substantial growth year in 2024, with nine active acquisition projects under way in central London”.
Hanover Green advised CBRE IM; Unica Capital was advised by Tydus Real Estate.
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