Office Space in Town has acquired the long leasehold interest in 20-22 Tudor Street in London’s Midtown for £21.35m from Meadow Partners.
The serviced office provider plans to carry out a major refurbishment of the seven-storey building, which has 36,000 sq ft of office space and is located a three-minute walk from Blackfriars Station.
As well as redeveloping the existing office space, the company is also considering adding additional space and creating a roof terrace.
“Having not bought a building for a short while, we are delighted to be back on the acquisition trail again and to acquire 20-22 Tudor Street,” said Giles Fuchs, CEO and co-founder of Office Space in Town. “It is an exceptional location in the thriving commercial district of Midtown with excellent transport links and a host of fantastic businesses with offices in the area.”
Simon Eastlake, Developments Director at Office Space in Town, claimed that the property would be “one of the highest-quality offices in the Midtown area” once it has been redeveloped.
Office Space in Town, which has six serviced offices in central London, said it had the funding to acquire other buildings, no more than a four-minute walk to a tube. At the start of the year, RDI REIT acquired an 80% stake in four of its London offices valued at £161.7m.
BH2 & Taylor Wessing acted for Meadow Partners. OSIT was advised by Gryphon Property Partners and Nockolds.
Read the article on Property Week here.