Friday, 29 August 2014
Hines agrees the sale of 280 High Holborn (UK)
Hines, the international real estate firm, has sold 280 High Holborn, the 69,000 ft² (approx. 6,410 m²) office development in the heart of London’s Midtown district, on behalf of the Hines European Development Fund II (HEDF II). The building has been acquired by a private client of Citi Private Bank.
HEDF II developed a new eight storey, BREEAM Excellent, Grade A office building which incorporates a ground floor retail unit.
The building is now fully occupied, with a diverse range of tenants including Gilead Sciences Limited, Joseph Hage Aaronson LLP, Edison Investment Research and GL Hearn.
Alexander Knapp, Managing Director of Hines UK, said: “Midtown has undergone a remarkable transformation in recent years, rising in prominence to compete with its City and West End neighbours. It is attracting an increasingly diverse occupier base, and considerable interest from investors. In many ways, 280 High Holborn exemplifies the Midtown market, with its mix of tenants and competitive field of parties interested in acquiring the building. The sale represents the end of a successful development process for HEDF II, and we are delighted with the outcome.
“Hines UK has made a number of acquisitions, including 60 London and 25 Cabot Square, this year. We are looking to grow our portfolio further, both in London and in the regions, in the coming months.”
JLL and DTZ acted for Hines, Citi Private Bank represented the purchaser.
Source: FTI Consulting