Whytecliffe Road, Purley, Croydon

Following the acquisition of this freehold office building located adjacent to the mainline station in Purley, Moorevale undertook a comprehensive review of the various options to enhance the building's capital value. This included an extensive dialogue with the incumbent tenant, HM Department of Works and Pensions, which resulted in a new reversionary lease for 10 years being agreed alongside marking the rent to market levels. Upon successfully concluding these negotiations, Moorevale received approaches from a number of investors which subsequently resulted in the sale at a significant increase in value.

Studio 40, Farnborough

We have comprehensively refurbished this attractive freehold period office building, to provide 6,000 sq ft of cool contemporary space, available in suites from 175 sq ft at a rent of £19.50psf.

63 St Mary Axe sold to Axa

Moorevale, on behalf of the JV partners, Rockspring, have completed the sale of this building to client funds of Axa.  This completes the refurbishment project which saw a repositioning of a well located but tired office building into high grade, multi-tenanted office accommodation.

63 St Mary Axe lettings

Quality will out!

63 SMA is letting up at a rate of knots now.  Approximately 60% of the floors have been let over a five month period.  New tenants include Caixa Bank, Impellam Plc and MTR in additional to a brand new upmarket gym concept – 1 Rebel – which is the new venture by the Balfour family  who founded the Fitness First chain.  Interest in the remaining floors continues apace as occupiers respond favourably to the high quality office environment and increasing demand for space in the market place.

110 Cannon Street letting

Job Done !

The last floor has signed to QuestBack, an integrated corporate performance review IT based platform, at the end of January.  This completes a successful end to the marketing phase of the project which has delivered a range a high grade occupiers from within the financial sector.  The 11 office occupiers have been joined by two new food and leisure operators – Scarpetta – the Italian coffee and pasta House and Athlete Lab – the specialist cycle fitness operator. 

Sherborne House sale

Acting on behalf of Allianz Real Estate, Moorevale has successfully disposed of the freehold interest in this multi-tenanted office and retail property to a private Middle Eastern investor for a price of £34.75m reflecting  a yield of 4.2% and £786psf.

Weston House sale

Acting on behalf of Allianz Real Estate, Moorevale has implemented a successful sales campaign and sold this Holborn office and retail property for a price in excess of £60m showing £696psf. The guide price was £55m.