France-based Remake AM has made its first acquisition in London, UK – a university campus building for £35.4 million/€42.8million.
Spitalfields House, at 110-114 Middlesex Street, hosts the London campus of Newcastle University, in partnership with QA Higher Education, the UK’s largest corporate training provider. It also features a restaurant.
The 4,412 square metre building is in a prime location in the City where the financial district meets the digital and technological sector and is close to Liverpool Street Station and Spitalfields Market.
Completely renovated in 2021, Spitalfields House has a basement, ground floor and five storeys. Eight years remain on the 15-year lease period.
The purchase price shows an immediate net real estate rate of 7.12%.
