20 St. Mary-at-Hill, London, EC3
Change of use from office to hotel, pre-letting to a major operator and forward sale of the development.
20 St Mary at Hill, London EC3
- Vacant 1970’s office building
- Planning consent obtained for change of use and significant extension to provide a new 183-bed hotel
- Redevelopment around the original frame to include four additional floors, re-cladding of all elevations and a turn-key fit out of the hotel .
- Pre-letting to Whitbread plc on a new 35 year FRI lease with index-linked rental uplifts
- Pre-sale of the investment at a landmark price to a UK Pension Fund
- Creating value through successful planning, design, pre-leasing and forward sale, significantly de-risking the project.