199-204 High Holborn has been sold by the Ediston Opportunity Partnership, a joint venture between Europa Fund III and Ediston Properties, to Ennismore Capital.
The property, located close to High Holborn Underground Station, comprises 61,638 ft² (approx. 5,726 m²) of office and retail accommodation. The Partnership improved the capital value of the property through successfully obtaining planning consent for a 138 bedroom hotel and purchasing the freehold interest.
Ennismore Capital is a London-based boutique investment firm which recently acquired The Hoxton Hotel in Shoreditch (London). It is understood that the group is looking to grow The Hoxton Hotel brand and develop further hotel sites in London, New York and across Europe.
James Fortescue at Europa Capital said, "We are very pleased with the success of the Fund's investment in High Holborn. With our partner, Ediston Properties, we have created an exciting hotel opportunity in the heart of Midtown. We look forward to investing in similarly well located asset management opportunities in the future."
John Watkins of Ediston added, "This was a complex deal and we are pleased with the result of what is the first disposal for our joint venture vehicle. We look forward to further successes with our partners Europa Capital."
Source: RLM Finsbury