European real estate developer Edge and Japan’s Mitsubishi Estate London have acquired 125 Shaftesbury Avenue, a 180,000 sq ft office building with retail at ground floor level, in London’s West End.
The 1.2-acre freehold site was previously occupied by WeWork and has a strong history of attracting London’s most innovative, leading businesses including BT, Yahoo and Meta.
Benefitting from excellent connectivity, the building sits in a prime location just south of Tottenham Court Road station, giving access to the Elizabeth, Central and Northern tube lines.
The 1980’s building presents a major central London redevelopment opportunity for the joint venture partners.
Fons van Dorst, Managing Director UK at Edge said: The need for healthy, sustainable, and smart buildings in accessible and vibrant locations is overdue in London. The acquisition of 125 Shaftesbury Avenue demonstrates Edge’s commitment to delivering best-in-class developments, as well as further proof of the markets’ interest in our vision. We look forward to reviving this iconic site alongside our partners at Mitsubishi Estate London Limited.
Shinichi Kagitomi, Managing Director at Mitsubishi Estate London Limited said: ”As long-term believers in the longevity and resilience of London’s office market, we are pleased to have made another acquisition and remain committed to growing our existing pipeline of developments projects across the Capital.
”We know that global occupiers still demonstrate strong demand for premium, sustainable and innovative workspaces and that there is pressure on the market to respond with suitable product in order to attract the best businesses. Having seen Edge’s track record in this arena, we are excited to be working alongside them to deliver a flagship new workplace.”
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