4th October 2014

Ediston sells prime city office investment

Ediston Real Estate and Europa Capital have sold 4-6 Copthall Avenue, EC2 for £11.33m reflecting a 5.00% net initial yield and delivering an IRR to the Ediston Opportunity Fund of 38%.

4-6 Copthall Avenue, a multi-let office and retail investment, situated in a prime location in the City of London, was sold to a private client of Knight Frank.

The property, comprises 10,695 sq. ft. of office space on the first to fifth floors multi-let to three tenants, a ground floor retail unit let to Costa Limited and a basement level let to Six Physio Limited.

The Partnership comprehensively refurbished the asset to a very high specification, which included an extended entrance, modern reception area and contemporary office suites.

Calum Bruce, Investment Director at Ediston commented “The sale brings to an end another successful transaction between Ediston and Europa Capital. We are very pleased with the outcome and we are looking forward to acquiring further well located assets with value add potential, across the UK.

James Fortescue, Director at Europa Capital said “We are delighted with the success of this asset having created a prime investment. We believe the sale price achieved reflects the quality of the refurbishment and the strength of the location within the City of London.

Europa Capital and Ediston Real Estate were advised by Strutt and Parker. Knight Frank advised the purchaser.