Farebrother advises on £59m Midtown office acquisition
28 May 2019
Advised by Farebrother, Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital LLP, has acquired the freehold of 65 Kingsway, London WC2 for £59m. The Grade II-listed Art Deco office building is located in the heart of Midtown and comprises 70,440 sq ft of space over seven floors. The building was formerly the headquarters for Kodak.
Clearbell is planning a comprehensive repositioning to create contemporary space building on 65 Kingsway’s heritage as London’s first open plan office and workshop.
Farebrother Leasing & Development Partner, Jules Hind, comments: “The purchase of 65 Kingsway presents an excellent opportunity to undertake a comprehensive refurbishment in a market which has an extremely low vacancy rate of 2.3% and little or no committed office development pipeline. Repositioning this landmark former HQ building, by providing modern Grade A office space will ensure a successful acquisition for the fund.”