Significant office investment for UK fund

Office design news from Morgan Lovell

Published on 30-11-2010

The Clarence Portfolio in London's City Fringe district has been sold to a UK investment fund for £22.7 million.

Consisting of three properties offering in excess of 102,000 sq ft of office interior space - 1-3 Dufferin Street, 28-42 Banner Street and 140 Old Street - the portfolio looks set to be included in plans for the creation of a UK version of Silicon Valley.

Some of the world's largest technology firms are setting up office space in the area and the deal could facilitate further office moves in the future.

Hatton director Shaun Simmons commented: "Having dealt with these buildings for many years on a personal level, we were in a fortunate position to provide strategic advice and add value for our clients where others may have missed it."

Meanwhile, the developers behind i2 Office's newest London development recently announced it has achieved more than 90 per cent tenancy just three months after its opening.

Posted by Adrian Norman