Ashby Capital - City of London, Ashby Capital confirms purchase of 200 Aldersgate for £225m
Date: 24 Sep 2013
Ashby Capital confirms purchase of 200 Aldersgate for £225m
Peter Ferrari's new property company Ashby Capital advised its group investment company on the purchase of the 434,000 sq ft 200 Aldersgate for £225m.
Yesterday Propertymall.com reported that Helical Bar, the seller recorded a profit of around £62m from two sales, one of which was 200 Aldersgate, London EC1.
Helical was appointed as development manager by Deutsche Pfandbriefbank in 2009 with the remit of completing the building's refurbishment and relaunching it onto the market.
The deal is Ashby Capital's first major acquisition since it was launched by Peter Ferrari in June 2013.
The London-based investment advisory firm fought off competition from ten bidders in order to secure the landmark office block in EC1.
The building, which is located just 200 metres from the new entrance to Farringdon Station, is 95% let with 24 different tenants, including FTI Consulting, Thomas Cook and Prêt à Manger (all lettings and deals reported by Propertymall.com).
Founded by Peter Ferrari, Ashby Capital is exclusively backed by a private investor with funds of £1.5bn to invest. The firm will target a range of real estate investment opportunities in prime locations in Central London, including offices, residential, retail, mixed-use and development opportunities.
Commenting on the transaction Peter Ferrari said "We are delighted to have secured our cornerstone investment in this fast growing area of London. The building has been expertly refurbished by Helical Bar and offers excellent prospects for rental growth. With 24 tenants I am sure there will be many opportunities over the coming years to further improve the asset."
CBRE and Savills advised on the transaction.
By Harry Hanscomb
200 Aldersgate, EC1