Sidra Capital has announced the expansion of its UK real estate holdings with the acquisition of No. 4-5 Buckingham Gate located across from Buckingham Palace in the heart of St. James Park. The 33,000 sq ft corner freehold property is the closest commercial office space to Buckingham Palace in a neighborhood that has increasingly attracted a number of high-end and prestigious office, retail, fashion and media brands.
“This constitutes a strategic move from Core to Value Add for Sidra Capital,” said Sidra Chairman Hani Baothman, “We remain confident about the commercial office sector as London continues to be a key investment destination for domestic and overseas capital due to its transparent and competitive market, established legal system, excellent growth prospects and attractive income yields in comparison to other asset classes.”
Also, in line with its successful strategy of purchasing and upgrading properties to increase their value, Sidra Capital is committed to refurbishing No. 4-5 Buckingham Gate to a CAT A standard befitting the location. It is one more example of Sidra’s expansion into prime Value Add investments and comes on the heels of the investment company’s 2020 purchase of 7 Hertford Street in Mayfair. That property recently received permission to expand to 11,000 sq ft.
Once home to London’s Metropolitan Police Authority and the forces that provided protection to the Palace and the Queen, the property enjoys a number of permitted change uses, a flexibility that will ultimately serve to increase its value.
Originally designed by renowned architect Sir James Pennethorne in 1850, this listed façade fronting a newly developed rear is a landmark asset facing Buckingham Palace and complimenting its historical significance. It can also count as neighbors to some of London’s best restaurants and hotels including The Grosvenor Hotel, Hotel 41, The Goring Hotel, Caxton Grill, and Osteria Dell’Angolo.
Source : Company