Broadwick Street Office Block Purchased in LondonΓÇÖs West End
Purchased for ┬ú31.7m, the office block at 15-17 Broadwick Street offers 32,000 sq ft of prime office space in the much desired West End. Currently occupied by Ford, the purchase of this office space is seen as the first step toward achieving the office space strategy which forms part of this new fund from CB Richard Ellis.
Richard Everett, who is the managing principle of the Fund was quoted in Property Week explaining the reason behind the purchase and their hopes for the PEC Fund as they move forward into 2010.
ΓÇ£It fits perfectly with our office strategy which is to take advantage of market cycles and benefit from supply and demand imbalances in strategic markets.
ΓÇ£We are close to securing further investments in the logistics and retail sectors in key European markets and look forward to adding further assets to the fund.ΓÇ¥
Broadwick Street is located in the W1F postcode and provides easy assess to both Picadilly Circus and Tottenham Court Road tube stations and shares a street with two serviced office buildings and at the heart of a busy office market.