2 August 2017

Golden Cross House sold for £67 million

Forsters has acted on behalf of The Crown Estate in relation to the sale of a long leasehold interest in multi-let retail, restaurant and office building Golden Cross House on the Strand in central London. The asset has been acquired by Motcomb Estates, the property company of billionaire Simon Reuben, for a purchase price in the region of £67 million.

The 66,500 sq ft asset, located directly opposite Charing Cross station, provides 41,000 sq ft of office space, which is fully let to serviced office provider MWB Business Exchange until 2029 at an annual rent of £1.66 million. The retail space at ground floor level is occupied by seven tenants, including HSBC, Pizza Express and the Co-operative.

Commercial Real Estate partner Guy Jordan advised on the disposal, assisted by Ruth de Maupeou.

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