The Lever Building: Pioneering new markets
Location: 85 Clerkenwell Road, London EC1
Investment type: Office refurbishment and asset management
Investment partner: GE Real Estate
The Victorian warehouse was comprehensively, yet sensitively, refurbished and converted into a contemporary, highly functional, Grade A office space arranged over lower ground, ground and five upper floors. Totalling 30,637 sq ft, the property was acquired to gain exposure to the Mid Town market in line with Endurance Land’s strategy at the time of seeking opportunities with future rental growth potential.
Streamlined exit strategy
The building was let in its entirety to Tesco upon completion of the refurbishment. Endurance Land and GE Real Estate subsequently sold The Lever Building to Amsprop for a record capital value in Clerkenwell of £1,000 per sq. ft.