London, 06 June 2014
Macquarie Lending has made its first UK commercial real estate acquisition with the purchase of an office building in central London.
Macquarie Lending has purchased Tavis House, which comprises 57,400 square foot over 10 floors and is situated on the corner of Tavistock Square in Bloomsbury, close to the British Museum and University College London. The purchase is in-line with Macquarie Lending’s strategy to deliver capital returns and stable income streams over the long-term.
The entire building is currently let to a public sector tenant on a long-term contract, and sub-let to the charity Age UK. Macquarie Lending will actively manage the property, using its existing inhouse expertise to enhance the value of the asset.
Neil Hasson, Head of Macquarie Real Estate Lending, Europe said: “Macquarie has long provided financing to borrowers and sponsors involved in real estate transactions. Our purchase of Tavis House is the first opportunistic acquisition we have made and we would be interested in making further acquisitions across Europe as special situations arise."