West London offices to be refurbished.
Wainbridge purchase high quality London offices.
In a recent announcement Wainbridge Capital Limited announced that it was buying a long leasehold on C200. The commercial property is located in the West of London and contains around 160,000 square feet of grade A office space. The company acquired the building for an estimated cost of £16 million meaning that the office space inside has a capital value of around £95.50 per square foot.
The purchase was made to increase Wainbridge Limited’s office fund’s, Wainbridge Global Opportunities London, portfolio of properties. The company only acquired its first property in September 2010 but since then it has garnered a total of £14.5 million and an overall total of £64.5 million in equity. This gives Wainbridge an estimated £184 million to invest in further commercial properties and office space.
Currently the C200 office development is still under development. The commercial property is strategically placed in close proximity to amenities and its also located adjacent to Diago’s headquarters, providing a great opportunity for business networking.
Aside from the 164,000 square feet of quality office space the building will also feature a brand new parking complex that will include 174 spaces. The development is expected to be fully completed by mid 2012, a timeframe that has been cleverly planned. It is expected that the current high levels of demand for office space in London will rise even further by Summer 2012 and the C200 could see new tenants queueing at the door.