Investment Acquisition for Structadene

Posted: 04/12/2006

Structadene, represented by Cyril Leonard, has bought 60, 62-70 Shorts Gardens and 14-16 Betterton Street, London WC2, which is in the heart of London's Covent Garden.

These former warehouse buildings total approximately 24,250 sq ft of primarily offices dating back to the early 19th and 20th Centuries. Shorts Gardens was constructed as one of London's first purposebuilt electricity stations and, fittingly, was owned and occupied by energy company EDF plc. Below Shorts Gardens is a triple-height basement (24 feet high) which was the original transformer chamber.

Structadene purchased the building freehold paying a price of £6,800,000 equating to £280 psf and have plans to extensively refurbish and extend the buildings.