Club Deal 146 - Aldwych House is a 163,000 square foot office building located in the heart of the Midtown office district in London, United Kingdom. Midtown is centrally positioned between the City and the West End office markets and is considered one of the strongest submarkets in London based on its historically high demand and low vacancy rates.
Aldwych House is a ten story asset, built in 1926 and last renovated in 1988. At purchase its average lease rates are approximately 30% below market rates. Taurus has completed Phase I of their renovations and launched the building in September 2015 with great success. Taurus has begun Phase II of the renovations; this final phase is expected to be completed by mid-2017.
The property was purchased in joint venture with GI Partners and Rowan Asset Management. It is Taurus’ first transaction in the UK.