AshbyCapital, the property investment advisory company, has acquired a 50% stake in Fitzroy Place, the recently completed freehold office-led mixed-use development in London’s Fitzrovia, on behalf of its group investment company.
AshbyCapital purchased the stake, which was marketed by global real estate advisor, CBRE, from Kaupthing for €253.2m (£217.1m). Aviva Investors have retained their 50% share of ownership, which it has held since they acquired the site in 2009.
Fitzroy Place comprises 20,581m² of high-quality office space across two best-in-class buildings, as well as 1,830m² of retail space at ground and basement levels and a 894m² healthcare unit - let to UCL Hospitals NHS Foundation Trust. The development also includes 235 private luxury residential apartments and 54 affordable homes.
CBRE acted for Kaupthing; Savills acted for AshbyCapital.
