2 December 2021

Forsters advises Barwood Capital on Eton House Richmond

The Commercial Real Estate team has advised a fund of Barwood Capital on its purchase of Eton House, a 32,774 sq ft office building in the heart of Richmond, which it will repurpose to outstanding and sustainable office space.

This purchase was the first in the office sector for Barwood since 2016. Eton House will undergo a full back-to-frame refurbishment with an additional floor of office accommodation and roof terrace, targeting a BREEAM rating of Excellent. Eton House became vacant in November 2021 and was acquired from Aviva Life & Pensions UK Ltd for £12.9 million.

The Forsters’ team that advised on the transaction was led by Partner Victoria Towers, who was assisted by Senior Associate Alexandra Burnaby.

Vicki commented: “I am delighted to have led the Forsters’ team advising Barwood on this office deal. They are a great team and I am personally pleased to work with them on another deal.”

Adam Smith, Asset Management Director at Barwood Capital commented: "The pandemic has accelerated existing themes in the office sector, where well specified office space with a keen focus on ESG credentials continues to outperform. Our refurbishment strategy for this asset aims to deliver such space into a supply constrained market.”

Barwood Capital was advised by real estate investment advisors ACRE Capital Real Estate. Moorevale will act as Development Manager for the redevelopment scheme.

The deal received coverage in Business Leader and the Property Trade Press.

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