The property, located close to High Holborn Underground Station, comprises 61,638 sq. feet of office and retail accommodation. The Partnership improved the capital value of the property through successfully obtaining planning consent for a 138 bedroom hotel and purchasing the freehold interest.
Ennismore Capital is a London-based boutique investment firm which recently acquired The Hoxton Hotel in Shoreditch, London.
Ediston acquired the property in February 2010 for c. £13.25m with an existing let to BT for a further 15 years, but sold with vacant possession after Ediston negotiated a surrender of the BT lease and acquired the Freehold interest.