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London office interior purchase for investment firm
Office design news from Morgan Lovell
Published on 16-02-2010
Lebanese investment firm M1 Real Estate has purchased 300,000 sq ft of office space at Victoria house in Bloomsbury Square, London.
Property Week reported the firm has paid £175 million for the property, which it bought from Irish company Moritz.
The site was constructed in 1929 and is presently approximately 50 per cent let, with the majority of tenants being government-backed organisations.
"We're extremely pleased with the acquisition, the real estate and investment fundamentals make sense and most importantly Victoria House has an imposing history and architecture," commented chief executive of M1 Real Estate Moustapha El Solh.
Elsewhere, Morgan Ashurst (MA) was recently awarded a new £6.3 million contract for the construction of offices in London.
Plans were created by Munkenbech and Partners Architects, with MA successfully tendering for the deal. The company is now to take on an eight-storey development at Gee Street and will create up to 2,500 sq ft of office space.
Posted by Adrian Norman.
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