Acquisition of Old Street Works
“It was a pleasure to work with Riverside Capital once again on this key acquisition in London’s tech city.”
We're delighted to have acted for our long-standing client, the Riverside Capital Group, on their £27.5m acquisition of ‘Old Street Works’ in the heart of “Tech City” on City Road, London.
Riverside Capital clients invested £16.2m in equity with the remaining funds being provided by Lloyds Bank Plc. ‘Old Street Works’ is a 33,179 square foot property which is situated close by to London’s technology hub, the “Silicon Roundabout”. The area is also home to the highest concentration of companies within London’s thriving technology industry, which now employs more people in the capital than the finance industry.
The property is currently let predominantly as retail and office units with commercial tenants and restaurants on the lower floors, while the upper floors are home to businesses in the Technology, Media and Telecoms industry. Riverside Capital will strengthen this by reviewing rents of the existing tenants and letting the remaining vacant spaces.
Sasha Stupar of Riverside Capital said “We look forward to making this acquisition a success for our investors and commend EMW’s commercial and pragmatic approach in progressing this transaction within tight timescales. We look forward to working with Nick and the team again in the near future.”
If you would like to find out more about this deal, please contact Nick Lloyd.