Crown Estate spends £134m on two headleases
The Crown Estate has purchased two headleases for a combined £134m as it looks to enhance its ownership in St James’s.
It has paid £78m for M&G Real Estate’s headlease at 53,989 sq ft Cunard House, 15 Regent Street, SW1, (pictured left) and £56m for Aberdeen Standard Life’s headlease at 26,078 sq ft 39 St James’s Street, SW1 (right). The Crown Estate already owned the freehold of the two buildings.
Tenants at the two buildings include Costa Coffee, Burgess Yachts, petroleum production and development company Enquest, art dealer Thomas Gibson Fine Art, investment and asset management firms Charlemagne Capital, Carrhae Capital and Tages Capital.
The Crown Estate has purchased two headleases for a combined £134m as it looks to enhance its ownership in St James’s.
It has paid £78m for M&G Real Estate’s headlease at 53,989 sq ft Cunard House, 15 Regent Street, SW1, (pictured left) and £56m for Aberdeen Standard Life’s headlease at 26,078 sq ft 39 St James’s Street, SW1 (right). The Crown Estate already owned the freehold of the two buildings.
Tenants at the two buildings include Costa Coffee, Burgess Yachts, petroleum production and development company Enquest, art dealer Thomas Gibson Fine Art, investment and asset management firms Charlemagne Capital, Carrhae Capital and Tages Capital.
Cunard House sits opposite the completed first phase of the Crown Estate and Oxford Properties’ St James’s Market regeneration and in February it unveiled proposals for the second phase.
The Crown Estate and Oxford Properties are seeking to replace St Albans House and Samuel House and others adjacent to St James’s Market, bordered by Norris Street, Haymarket, Charles II Street and St Albans Street to create a new mixed-use scheme comprising 66,000 sq ft of offices, retail and dining space.
Colliers and CBRE advised the Crown Estate on Cunard House and 39 St James’s Street respectively; JLL advised M&G Real Estate.
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
