- Client: Clearbell
- Size: c.190,000 sq.ft.
- Use: Offices
- Value: £73 million plus
- Tenure: Long leasehold
Gryphon sourced and advised on the purchase of the property for Clearbell Capital in 2013 for a purchase price of £37m
Following various asset management initiatives including 're-position' works to the exterior an internal and external rolling refurbishment we were able to increase the rents by over 50%.
We were also able to extentend/ re-gear existing leases thereby minimizing voids.
Over the course of 2017 and 2018 we sold the properties in two phases realising over £73m ie an approx 100% increase in value.