Caleus makes Dering debut with £60m Mayfair buy
A Berlin-based investment firm has made a £60m UK debut, buying a freehold Mayfair building from L&G.
Caleus has bought 19-24 Dering Street, W1, a 35,000 sq ft prime mixed-use building opposite the entrance to the new Elizabeth Line station.
The building includes offices, gallery space and leisure accommodation over seven floors, with a passing rent of £2.1m pa, equating to £61.25 per sq ft.
A Berlin-based investment firm has made a £60m UK debut, buying a freehold Mayfair building from L&G.
Caleus has bought 19-24 Dering Street, W1, a 35,000 sq ft prime mixed-use building opposite the entrance to the new Elizabeth Line station.
The building includes offices, gallery space and leisure accommodation over seven floors, with a passing rent of £2.1m pa, equating to £61.25 per sq ft.
In addition, a full redevelopment could be undertaken following the block date in July 2024.
Anthony Golosetti, managing partner at Caleus, said: “At Caleus our DNA is in strategic investments in well-connected office locations where we can create high-quality sustainable assets for communities.
“London is the main focus of our outbound investment strategy and we intend to accelerate our pace of acquisition in the city. Dering Street is a great canvas to deliver a best-in-class, ESG-centric asset, where the quality of design matches the strength of the location.”
James Purdon, central London investment director at Savills, which advised Caleus, added: “This is one of the very last value-add opportunities in the much-coveted Hanover Square vicinity. Our client’s strategy is to deliver exceptional buildings in the best locations and this project aligns entirely with that aim.”
Savills represented Caleus; JLL advised the Legal & General.
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