London,
23
May
2017
|
10:39
Europe/London

RARE FREEHOLD INTEREST IN BLOOMSBURY TO TRADE FOR FIRST TIME

The Crown Estate, advised by CBRE, is launching to the market its freehold interest in 10 Bloomsbury Way, representing the first time the interest will have been traded.

The landmark island site, which fronts New Oxford Street, Bloomsbury Way and Bury Place, is let to London & Regional Properties on a long leasehold. Originally built as the Headquarters of the Ministry of Defence in 1947, 10 Bloomsbury Way was comprehensively refurbished in June 2015 to include a new 9th floor level. The Property is sublet to six office tenants and one retail occupier.

Bloomsbury is one of the most rapidly developing parts of the capital in close proximity to a number of significant transport hubs and will benefit from the delivery of the Elizabeth line at Tottenham Court Road from 2018. The £1 billion spend programme at Tottenham Court Road is the largest transport investment in the West End for decades. This has led to a significant development pipeline response and an unprecedented take up from renowned global occupiers moving to the area including Facebook, McKinsey & Company and COS Stores.

The Crown Estate is inviting offers in excess of £33 million.