INDUSTRY NEWS

Tribeca Holdings buys Mayfair office space at 431-451 Oxford Street

Tribeca Holdings has agreed to buy property in Mayfair for £130m according to new reports.

Bloomberg has reported two people close to the deal have confirmed the purchase involving the luxury property investor is all but done.

The building is located at 431-451 Oxford Street and will be purchased from Structadene Ltd. According to data collected by broker H2SO, this sale will be the second largest mixed property deal in the West End this year.

The site offers a reported 53,000 sq ft of Mayfair office space and apartments as well as nine stores. It is located opposite Selfridges.

The property is located incredibly close to the Bond Street high speed Crossrail station. A number of property developers have already looked to snap up similarly located properties hoping the Crossrail proves to be an attractive draw to future tenants once the Crossrail finally opens in 2018.

Upon opening, the Crossrail station will provide commuters with a quick connection to both Heathrow Airport and the Canary Wharf financial district.

Tribeca Holdings is led by Aiden Brooks and his firm previously advised an undisclosed buyer on the acquisition of London’s Old Spitalfields market back in May. It owns real estate in a number of high-rent areas including Los Angeles and London.

At present, neither Tribeca or Structadene have commented on the deal.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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