Patrizia acquires Coda Studios in London for €45m (GB)

Patrizia acquires Coda Studios in London for €45m (GB)

Patrizia has acquired Coda Studios office space in Fulham, London from Colombia Threadneedle for a price close to €45m. The acquisition was made on behalf of its ‘Hanover PUT’ fund – an actively managed, open-ended, UK-focused real estate fund that has been running for 51 years and has a net asset value of almost €600m.

 

Coda Studios provides almost 65,000ft² of gated, secure office accommodation across 56 self-contained private suites, ranging in size from 300ft² to 3,000ft². The recent opening of a state-of-the-art gym, community lounge, on-site meeting room and seasonal garden has transformed Coda into a dynamic and creative campus with the further benefit of 81 on-site parking spaces.

 

Simon West, Fund Manager of Hanover at Patrizia, commented: “This is a unique West London business and we see a real opportunity to offer the type of office accommodation that tenants are seeking in today’s market. 95% of private businesses in the UK employ less than 50 people and Coda is perfectly placed to attract these companies.”

 

Charlie Bishop of Moorevale, Patrizia’s local operating partner for the Coda project, said: “We are genuinely excited about teaming up with Patrizia once again. This project holds great potential and provides a comprehensive occupational solution for small- and medium-sized enterprises.” 

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