Meadow Partners acquires A-level office space in London in £26m deal

Leading property consultancy Allsop, acting in conjunction with Anton Page, has completed the sale of full ownership of Grade A office space in Aldgate, central London, on behalf of Maurice Investments for 26 million pounds. Acquired by Meadow Partners, the price equates to approximately £960 per square foot and a net initial yield of 5%.

Wool + Tailor, 10-12 Alie Street E1, comprises 27,158 square feet of Grade A office and ancillary accommodation over nine floors. It is a three-minute walk from Aldgate station and a 15-minute walk from six other rail and tube stations, including Whitechapel which is on the recently opened Elizabeth line and is multi-let to five tenants. Maurice Investments originally acquired the building in an off-market transaction advised by Allsop, who also completed a successful rental campaign alongside Anton Page.

Wool + Tailor was refitted in 2019 to include two additional floors and a new facade, with BREEAM ‘very good’ and EPC A and B ratings. It features an eco-friendly biodiverse roof, bike racks that can accommodate up to 36 bikes and a WiredScore Gold certification with fiber optic internet. Wool + Tailor further benefits from exceptional natural light throughout, which is enhanced by floor-to-ceiling heights of up to 3.3 meters, and a 7e Common ground floor business lounge with dual aspect terraces offering panoramic views of the city and beyond.

Allsop and Anton Page jointly represented Maurice Investments in the sale. Cushman & Wakefield advised Meadow Partners.

Matthew Millman, Partner at Allsop, said: “The sale of Wool + Tailor concludes a very successful business plan for our client where we advised on the off-market acquisition, rental and then disposal of what has become the one of the finest buildings in Aldgate. . Wool + Tailor meets the demands of the modern investor and occupier for “best in class” office space with strong ESG credentials, excellent connectivity and plenty of nearby cafes, bars and restaurants.

Chris B. Hall