AM alpha has completed the acquisition of the office asset 24, Endell Street in London’s Borough of Camden, known as the hClub on behalf of WE-Holding. The property is located in Covent Garden, the cultural heart of London, situated to the east of Soho and to the west of Midtown and the City of London. Covent Garden is well known as one of London’s premier submarkets and the home to a wide variety of office occupiers from the media and creative sectors through to major financial institutions.
Transport communications are excellent with Covent Garden Underground Station and the new Crossrail hub at Tottenham Court Road Station all within 10 minutes walking distance. These stations provide access to the Piccadilly Line, Central Line, Northern Line and eventually the Elizabeth Line, providing easy access to the rest of London.
The building has previously been used as a private members club with a TV and music recording studio in the two lower ground floors. Whilst the studio is intended to be retained, it is planned to covert the former private member’s club into Grade A office space that will be used as the new UK headquarters of PATRIZIA, a global real asset investment manager.
According to Martin Lemke, Managing Director at AM alpha, said: “The successful completion of this transaction is further evidence of AM alpha’s execution capabilities and ability to source robust real estate opportunities. Within Europe, the UK will continue to be the main focus for us and we will actively seek core and value-oriented investments across all sectors.”
