Marchmont Sell Victoria Asset To UK Fund

Marchmont sell Warwick House, Buckingham Palace Road to Columbia Threadneedle.

Marchmont Investment Management, the private real estate investment manager, announces the sale of a retail and office investment in London, Victoria to Columbia Threadneedle for £15.65 million. The building comprises a prominent double-fronted retail unit with multi-let office accommodation above. Marchmont bought the building in 2014 for £10.15million and carried out a comprehensive refurbishment of the common parts and a rolling refurbishment of the offices during the hold period.

Tim Lumsdon, Director of Marchmont commented, “Following the refurbishment works carried out, we were able to capitalise on rising rents owing to the growing supply and demand imbalance in the micro-location. Investor demand was strong due to the extent of the investment into the local area.”