07 August 2017
Reporter: Theo Andrew

Joint venture bags 100 New Oxford St for £180 million

Thor Equities and AEW have joined forces to acquire 100 New Oxford Street in London’s West End for £180 million.

The 106,404-square foot multi-use asset consists of six storeys, with the upper five comprising 87,897 square feet of office space. Tenants include WME Entertainment and Stanhope.

The remaining 18,507-square foot ground floor space spans across six prime retail units and two restaurants, with tenants including Shake Shack and Jessops.

Located 100 metres from Tottenham Court Road, the area is currently under construction as part of London’s Crossrail development, expected to bring 1.5 million people within 45 minutes of central London when it opens in 2018.

In addition, the asset sits adjacent to Centre Point tower, a residential development that will include 82 high-end apartments as well as retail and restaurant units.

AEW’s stake has has been purchased in a club deal of two German investors, while it is the eighth addition to Thor's London portfolio, primarily consisting of prime retail assets.

Rob Wilkinson, European CEO at AEW, said: "The property represents a compelling opportunity and a great introduction to the London market for our German clients who we are very pleased to bring to the UK capital.”

He added: “The asset is further augmented by the numerous residential and commercial development projects in the vicinity of the asset which are enhancing the area’s potential, boosting business and improving public spaces.”

Joseph Sitt, CEO of Thor Equities, said: “Thor remains strongly committed to London as a key global market, and we have proven to be able to continue to extract value from assets in the City and other key markets throughout Europe.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
London pension fund strengthens board
17 August 2017 | London | Reporter: Theo Andrew
The London Pension Fund Authority (LPFA) has appointed Nigel Topping and Barbara Weber to its trustee board, effective immediately
Greystar appoints Jeff Manno to lead Growth Fund
17 August 2017 | Charleston | Reporter: Theo Andrew
Reporting to Chris MacNaughton, Greystar’s head of portfolio management platform, Manno will relocate from London to Charleston, South Carolina
LaSalle shoots for $1 billion Asian real estate fund
17 August 2017 | Chicago | Reporter: Theo Andrew
In its fifth and latest close, LAO V secured $335 million of commitments, meaning the fund is well in line to exceed its initial target of $750 million
Schroders secures self-storage portfolio for £44 million
16 August 2017 | London | Reporter: Theo Andrew
It is the institutional investor’s first foray into self-storage sector, which it sees as a major growth opportunity within the alternatives sector down to changing demographic trends
BlackRock enters Australian renewable energy sector
16 August 2017 | Queensland | Reporter: Theo Andrew
The global investment manager secured the long-term syndicated debt facility through the Clean Energy Finance Corporation, the Commonwealth Bank of Australia and Natixis
Foundation appoints new global head of transactions
15 August 2017 | Zurich | Reporter: Jenna Lomax
Feix will be based in Zurich and replaces Ulrich Kaluscha, who held the post on an interim basis
Five Point buys OC office campus for $443 million
15 August 2017 | California | Reporter: Theo Andrew
Five Point Holdings has acquired a 73-acre corporate campus in Irvine, California, on behalf of its new venture, Five Point Office Venture Holdings I, for $443 million