RIB’s Investment Team was mandated with coming up with a strategy to affect the sales.
Following unsuccessful attempts by the Freeholder to sell two adjoining mixed-use Freehold buildings, RIB’s Investment Team was mandated with coming up with a strategy to affect the sales.
About the property
The buildings are in the heart of Bloomsbury which is famous for its collection of academic and medical institutions, bookshops, and cafes, with elegant Georgian townhouses lining Russell and Bedford Squares. Other local amenities include Bloomsbury Square Garden, the world famous The British Museum, Senate House Library, Dominion Theatre, Fight Club as well as UCL, LSE, SOAS and Kings University all close by.
The buildings are arranged over lower ground, ground and three upper floors, comprising commercial and residential use. The properties benefitted from flat roofs where it is envisaged a roof garden or additional floor could be developed, subject to the necessary planning consents.
Following an extensive marketing campaign, we were able to agree terms with a private investment group who will look to carry out a Residential Conversion. Offers were received on the individual assets as well, meaning that we were able to ensure that the sale was completed within the alotted time frame.