Billionaires Hunt Real Estate Bargains, Boost Equity Allocations
21 July 2017 – CoStar
The Reuben brothers have bought a new 125 year head lease on Golden Cross House, Strand, London, WC2 from The Crown Estate for £70m.
The building which totals approximately 66,500 sq ft comprises a mix of retail, leisure and offices uses and is let to tenants including MWB Business Exchange, HSBC, Pizza Express, Co-Operative Group Food and Tortilla. The building is let off low passing rents and offers significant future rental growth prospects with the potential to add further accommodation.
The price paid was in the region of £70m. The Reuben brothers were represented by Corbett Northam and The Crown Estate by Colliers International.
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