Partner Article

Overseas buyer snaps up 52 Bedford Row from Lothbury

A 28,385 sq ft office building in Holborn has been acquired by a private overseas investor and entailed a £28.2m windfall for Lothbury Investment Management.

The investment firm, working on behalf of Lothbury Property Trust, has disposed of 52 Bedford Row, WC1 after owning the central London asset since 2001.

According to the investment firm, the building is currently fully let to law firm Wedlake Bell LLP until December 2018; however, it also claimed that the law practice recently vacated the seven-storey development for new premises.

Michael Toft, Senior Fund Manager and Executive Director of Lothbury Investment Management, said: “This has been a strong performing asset in a prime location but we are very pleased to have completed this sale.

“It reduces our central London weighting and has enabled us to crystallise a profit to valuation without taking the development and void risk.”

Cushman and Wakefield acted for Lothbury; Michael Elliot acted for the purchaser.

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