Uncommon buys Holborn office for £80m
Uncommon has acquired Templar House in Holborn from Northwood Investors for £80m, its largest acquisition to date.
Formerly the home of London Underground, the 140,000 sq ft building will become Uncommon’s flagship site, providing flexible workspace for over 2,000 people.
Going forward the firm will continue to grow its freehold model throughout London and Europe.
Uncommon has acquired Templar House in Holborn from Northwood Investors for £80m, its largest acquisition to date.
Formerly the home of London Underground, the 140,000 sq ft building will become Uncommon’s flagship site, providing flexible workspace for over 2,000 people.
Going forward the firm will continue to grow its freehold model throughout London and Europe.
Tania Adir, Uncommon co-founder and chief executive, said: “Uncommon Holborn will be the first in class, client-tailored office solution focusing on individual businesses’ needs to create their own unique space in order to reflect their brand and identity. We have been approached by large businesses in excess of 500 members looking to create their perfect HQ within Uncommon.”
Templar House, which takes its names from the nearby Temple Church built by the Knights Templar in 1118, is located 500 feet from Holborn Underground Station.
Uncommon Holborn will first open its doors in 2021, with pre-sales starting early next year.
Northwood Investors bought Templar House from private investor Michael Feldman in 2014.
The US private equity firm, set up by former Blackstone Real Estate president John Kukral, paid £55m for the freehold. The price reflected a yield in the region of 5.75%.
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