The Copyright Building, Fitzrovia
BNP Paribas Real Estate advised Derwent London on the acquisition and leasing strategy for The Copywriting Building in London’s Fitzrovia.
Derwent London was looking to amass a strategic site in Fitzrovia, one of London’s fast-growing submarkets, and required assistance in creating an attractive investment opportunity.
The Copyright Building is a newly- developed 107,000 sq ft building with commercial, office and retail accommodation. We assisted the client with purchases to help amass the site and enable the property’s development, and provided leasing advice which culminated in the pre-letting of the building’s entire 87,150 sq ft office element. We also secured a sale price of £165 million for the long leasehold, reflecting a net initial yield of 4.20%.
“This has been a highly successful project in one of central London’s most dynamic submarkets, culminating in an investment sale of the building to a European buyer for £165 million.“