Shaftesbury has acquired Jaeger House, 57 Broadwick Street, for £30.75m, which the company said was an increasingly important east-west pedestrian route through Soho, connecting Carnaby and Berwick streets.
Jaeger House is on the eastern boundary of the company’s ownership of 4.1 acres in Carnaby and close to its growing holdings in Soho, which now extend to 1.1 acres – these holdings have a combined book value in excess of £860m.
The property, built in 1970, currently comprises 24,900sq ft of office and retail accommodation on lower floors, together with 37 flats sold on long leases above the commercial space. Commercial tenancies, which expire in June 2015, currently produce rental income of £0.9m per annum.
The landlord said the building offers a number of interesting options including the potential, subject to planning consent, to increase and reconfigure space and introduce new planning uses.
Shaftesbury chief executive Brian Bickell said: “Jaeger House is a valuable addition to our substantial holdings in Carnaby and Soho, which now have a combined book value in excess of £860m. Broadwick Street is a few minutes from the Dean Street entrance to the new Tottenham Court Road Crossrail hub. Our long-term strategy for the building will reflect the growing popularity and importance of this location for businesses, visitors and residents.”