INDUSTRY NEWS

Evans Randall seals £60m deal for Mayfair office space

UK investment banking and private equity group, Evans Randall, has completed the acquisition of Mayfair office space.

It announced the purchase of the freehold for 15 Sackville Street from Mitsui & Co in a deal worth about £60 million.

The seven-storey office building provides 34,000 sq ft of office space, and was completed in 2011.

The top floor of 15 Sackville Street is currently occupied by Gulfstream Aerospace.

Evans Randall will let the remaining Mayfair office space out in order to enhance its value as an asset.

In what’s been a busy period for the company, it also revealed that it had completed two separate purchases.

The company has bought another Mayfair property – 4 and 5 Queen Street – in partnership with Al Salam Bank Bahrain; as well as a 13,750 sq m data centre in Amsterdam, Holland in a deal worth £16 million.

Commenting on Evans Randall’s latest purchases, the company’s chairman, Michael Evans, stated: “These three acquisitions reflect our prevailing strategy of investing in high quality properties with asset management potential, where we can deploy our skills and our access to equity co-investment to unlock value in the short to medium term.

“While each opportunity is different, the quality of the location and potential for value enhancement is common to all,” Mr Evans concluded.

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