Thor Equities in partnership with London-based Chenavari Investment Managers, has closed on the acquisition of 145 Oxford Street in London for €55.26m (£40m).
The 743m², five-level mixed-use corner building is located on Europe’s busiest shopping corridor and surrounded by renowned fashion retailers including Calzedonia, Zara, Swarovski, Urban Outfitters and Primark. In addition, Facebook has pre-leased 21,000m² of office space in a nearby building.
The property is also within five minutes of the new Tottenham Court Road Crossrail station, part of the €20.97bn (£14.8 bn) Crossrail train line, Europe’s largest infrastructure project due to open in 2018.
“145 Oxford Street is ideally located in the heart of one of the most trafficked retail corridors in the world, with strong growth forecast as a result of the area’s major transportation improvements and overall market rejuvenation,” said Melissa Gliatta, executive vice president of Thor Equities.
Thor’s purchase of 145 Oxford Street continues its recent London expansion. Its holdings in the city also include 105-109 Oxford Street, Bond Street House at 14 Clifford Street and the Burlington Arcade, a historical and architectural masterpiece. The company’s European holdings also include 102 Ave. des Champs-Elysees, 51-53 Blvd. Haussmann and 65 Ave. de Champs-Elysees in Paris; 65 Blvd. de la Croisette in Cannes; 9 Puerta del Sol in Madrid; and 26 Via della Spiga in Milan.
“The acquisition of 145 Oxford Street caps off an incredible year for our European team,” Gliatta said. “In addition to the acquisition of multiple properties in London, Paris, Madrid and Milan in 2015, we welcomed several new key members to our team.”
