Orchard Street Investment Management has completed the acquisition of 64/76 New Oxford Street, WC1, for £36.5 mln (€50.4 mln) on behalf of St James’s Place Wealth Management.
Jaro Real Estate Limited, a private equity property company purchased the property in 2011 on behalf of private clients, carried out an extensive refurbishment including recladding and adding a new fourth floor. The property was sold in an off market transaction.
Extremely well located to benefit from the new Tottenham Court Road Crossrail Station, scheduled for completion in 2018, 64/76 New Oxford Street comprises 17,729 ft² (1,647 m²) of Grade A offices with two retail units on the ground floor.
The office element of the property has benefited from a recently completed substantial refurbishment involving an extension of the existing floors, the installation of a new curtain wall double glazing system, complete renewal of the plant and the addition of a fourth floor which offers a roof terrace.
Source: Orchard Street