Repositioning a major City office

Challenge
Hartnell Taylor Cook was appointed by a major overseas investor seeking City office investments with the potential to enhance return through active asset management, a market that is particularly challenging and very competitive.

Solution
The approach to identifying, acquiring and repositioning 24 Chiswell Street, EC1, was multi-disciplined. From the identification of the 72,000 sq ft multi-let office block through to its acquisition and advising on and project management of the transformation works.  We advised on the management of the building, provided facilities management and looked at potential asset management opportunities.  We negotiated with existing tenants to release over half of the block to enable refurbishments of a number of the floors and reception area.  Finally, our Office Agency team advised on the refurbishment and the letting of the refurbished site, securing a headline rent of £59 per sq ft with the majority of the space let.

Result
The repositioning of 24 Chiswell Street into a Grade A office block has not only seen its value increase significantly in a challenging market but now also attracts a wide range of tenants from traditional corporates through to media, TMT and tech industries. This is an excellent example of how a building’s value can be enhanced through efficient and cost effective asset management strategies adopting a collaborative and multi-disciplinary approach.

 

Jonathan Gilbert

Partner

London

020 7788 3817

Investment | Partners

Email Jonathan

Need our help?

Whether you need agency, consultancy or asset management services we can provide a wide range of technical and commercial advice. For further details on our services get in touch.

Find out more

COVID 19 – BUSINESS UPDATE

Following the Government announcement on 31st October, we are pleased to advise that our colleagues continue to operate successfully, with the majority working from home, and we do not anticipate any impact to the service provided. We remain fully contactable on either mobile phone or email.

Alternatively, if you are uncertain who to contact then please call our main reception on 0117 923 9234 between normal office hours 9.00am to 5.30pm for help.

If you require further information on a particular property we are currently marketing, the details are set out on our website (click here).

If you have an enquiry regarding a property we manage, please contact the appropriate property/facilities manager (https://www.htc.uk.com/about-us/team/). In addition, you could contact our 24/7 helpdesk available on 0345 241 1528.

If you do experience a delay in contacting your chosen Hartnell Taylor Cook representative we thank you for your patience during the current situation.

Hartnell Taylor Cook
5th November 2020