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.