News: Powell Williams advises on £11.75m London office acquisition for Anglezark
Anglezark has purchased 17-20 Ironmonger Lane, EC2 in the
City of London for £11.75m from CBRE Global Investors. Powell
Williams provided the technical due diligence for the 12,000 sq ft
acquisition, which completed on 21 July 2017.
Lane, London, EC2
Location, location, location
Primarily office accommodation, the five storey
building is also home to the famous Harry's Bar, which occupies the
basement and part of the ground floor. Popular Vietnamese street
food outlet City Caphe occupies the second ground floor
Its location in the heart of the City, between Cheapside
and Gresham Street near to the Bank of England, makes 17-20
Ironmonger Lane ideal for City businesses. The four floors of
office accommodation are fully let to professional firms in fields
such as headhunting, stockbroking and public relations.
The acquisition is the latest buy
the investment and asset management firm
Matt Kelly, Anglezark owner,
"This acquisition is a long term investment in a great
building with solid tenancies, which will provide a strong return.
It neatly complements the growing Anglezark portfolio, which has
similar assets throughout London, in Soho, Midtown and the West
There is no radical plan for the building, but we will
steadily make improvements. Powell Williams' assistance gave me
comfort that the building was as expected, and they have provided
the cornerstone of the ongoing planned, preventative maintenance
programme that we will be putting into place."
Powell Williams partner Martin Hunt, based in the Chester
"Although inspired by Georgian townhouse design and the faithful
use of traditional London stock brick and timber sash windows, the
building is in fact a 1950s construction.
It lies within the Guildhall Conservation area, which
impacts somewhat on our recommendation for the future maintenance
requirements, but overall is in a good state of repair. We're
pleased to have been able to support Anglezark in this acquisition
and provide advice to securing the long term success of the
Anglezark were represented by Corbett Northam and CBRE
Global Investors were represented by CBRE.
For more information please contact Martin Hunt.