London-based global real estate investment manager SFO Capital Partners has acquired the Corner Building, a prominent office building located in Farringdon, London.
The Corner Building is strategically located less than a three-minute walk from Farringdon station, which is due to welcome Crossrail in March 2022, and walking distance away from Barbican and Chancery Lane stations and the Smithfield Market.
Given the substantial recent investment into the Farringdon area, the Corner Building is positioned in one of London’s most sought after office destinations, becoming a business hub for creative and tech industries.
SFO Capital Partners’ investment strategy consists of a floor-by-floor refurbishment as well as an upgrade of common areas and roof terrace. This transaction falls within SFO Capital Partners’ value-add strategy and follows its recent acquisition of another office building with significant value creation potential, located on Farm Street in the heart of Mayfair.
SFO Capital Partners has appointed and partnered with London-based RE Capital to execute the strategy.
Mohamad Abouchalbak CEO of SFO Capital Partners said: “Having benefitted from significant investment over recent years, Farringdon is regarded as one of London’s most thriving, well-connected and desirable office destinations. When Crossrail arrives in March 2022, Farringdon’s position as a key transport hub will further consolidate the commercial appeal of the area. We are pleased to partner with RE Capital on this investment. Our strategy for this prime commercial asset will see significant upgrades and renovations made with a view to lease the new grade A space.
Given its strategic location and architectural prominence, the Corner Building is extremely well positioned to capture the increasing demand witnessed in the Farringdon market”