PROPERTY SUMMARY
Waterside is an iconic development completed in 2003 and designed by one of the world’s leading architects, Richard Rogers. The headquarters building located in Paddington Basin, on the north side of Regents Canal in London’s West End. The building offers highly specified, contemporary offices with Mark’s and Spencer occupying the whole building as their European HQ.
The property comprises two interlinking wings which are capable of being sub-divided with floor plates ranging from 23,700 sq ft to 14,500 sq ft. Access to the offices is provided via two full height atriums with circulation bridges and full height glazing allowing for high levels of natural light.
PROPERTY FEATURES
TENURE Virtual Freehold
INVESTMENT TYPE Core – 25 year lease to institutional covenant
ASSET MANAGEMENT Negotiated c. 24% Rental Increase during arbitration proceedings
NET INTERNAL AREA 237,801 sq ft
ACQUISITION January 2005
DISPOSAL DATE November 2013
PURCHASER Syndicate of Korean Institutional Investors and Gaw Capital