Feldberg Capital (Feldberg) has acquired 21-25 Bedford Street, London WC2, for c. €87.75m, for its ReForm Fund.
21-25 Bedford Street is less than 100 metres from Covent Garden Piazza with world-class restaurants, bars, retail, and theatres. The building is close to both Covent Garden and Leicester Square underground stations, while Tottenham Court Road station (on the new Elizabeth Line) is only 750 metres away.
ESG upgrade measures will include the removal of gas boilers as well as installation of air-source and water-source heat pumps, and on-site solar panels. Furthermore, Feldberg’s focus on social sustainability will see the creation of an asset-specific charity partnership chosen based on the results of a needs assessment of the local Covent Garden area.
Robert Allen-Mersh, Director at Feldberg said: “This acquisition continues to support our thesis that we are seeing a once-in-a-cycle opportunity to invest in Central London’s best commercial real estate assets at very attractive values. 21-25 Bedford Street is a very high-quality mixed-use building in the heart of Covent Garden with exciting asset management upside.”
Will Amies, Head of Business Development at Feldberg said: “21-25 Bedford Street marks ReForm’s second transaction following the impact fund’s acquisition of 8 Bloomsbury Street late last year. We achieved the first close on ReForm in October 2023 and subsequently quickly reached the second close in December 2023. Our ability to fundraise in the current climate is a testament to the belief investors have in our ability to deploy capital quickly into good buildings at very attractive pricing.”
Image provided by SECNewgate.
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