The challenge
Victoria Gate, a 43,000 sq ft 1980’s office building, was tired and dated and required a comprehensive refurbishment. Following vacation by the previous tenant on lease expiry, the space required considerable capital expenditure in order complete the necessary works.
The solution
BNP Paribas Real Estate provided advice on the inter-fund transfer of the asset, after which a full professional team was appointed to undertake a feasibility study. A back-to-frame redevelopment was successfully completed in summer 2018, taking the building to 67,000 sq ft. The building was let to McLaren three months after completion.