La Française collective real estate investment vehicle acquires a second UK asset

A La Française collective real estate investment vehicle, represented by La Française Real Estate Partners International, has acquired its second UK asset from Pencross Assets Limited.

The property is located at 17-18 Haywards Place EC1, which is considered to be a prime Clerkenwell location in close proximity to Farringdon Thameslink and London Underground station. The station is shortly to be enhanced by the opening of the Elizabeth Line (Crossrail), becoming one of the few stations in London to provide an interchange between the north / south Thameslink service and the Elizabeth Line, as well as the London Underground network through the Circle, Hammersmith & City and Metropolitan Lines.

The warehouse style building was subject to a back to shell refurbishment and extension in 2018 and now provides 11,000 sq.ft. of grade A offices across six floors. The property is fully let to four tenants.

The agreed purchase price was £15.56m and purchase reflects a net initial yield of 4.22%. Crossland Otter Hunt represented La Française Real Estate Partners International and Cyril Leonard represented the Seller.

David Rendall, CEO of La Française Real Estate Partners International said, “We are delighted to secure a second property in the UK so quickly after the acquisition of 90 Bartholomew Close in April 2020.”

Peter Balfour, Investment Director of La Française Real Estate Partners International - UK said, “17-18 Haywards Place follows the theme of focusing on buildings that are attractive to modern occupiers and which benefit from improvements to the transport infrastructure in London.”

Disclaimer:

Promotional document. THIS DOCUMENT IS INTENDED FOR PROFESSIONAL INVESTORS AS DEFINED BY MIFID. The information and material provided herein does not in any case represent advice, an offer, a solicitation or a recommendation to invest in specific investments.

Issued by La Française AM Finance Services, home office 128 boulevard Raspail, 75006 Paris, France, regulated by the “Autorité de Contrôle Prudentiel et de Résolution” as investment services provider under the number 18673 X, affiliate of La Française. Internet information for the regulatory authorities Autorité de Contrôle Prudentiel et de Résolution www.acpr.banque-france.fr, Autorité des Marchés Financiers www.amf-france.org.

La Française Real Estate Partners International, a private company limited by shares under English law, registered with Companies House of England and Wales under number 8846658, with its registered office at 78 Brook Street, London W1K5EF.