Allsop acting jointly alongside Anton Page, has completed on the sale of the freehold of a Grade A workspace in Aldgate, central London, on behalf of Maurice Investments for £26 million. Acquired by Meadow Partners, the price is equivalent to approximately £960 per sq ft and a net initial yield of 5%.

Wool + Tailor, 10-12 Alie Street E1, comprises 27,158 sq ft of Grade A office and ancillary accommodation over nine floors. It is within a three-minute walk of Aldgate station and a 15-minute walk of six further train and underground stations, including Whitechapel which is on the newly opened Elizabeth line, and is multi-let to five tenants. Maurice Investments had initially acquired the building in an off-market deal advised by Allsop, which also went on to conclude a successful leasing campaign alongside Anton Page.

Wool + Tailor was redeveloped in 2019 to include two additional floors and a new façade, with BREEAM “very good” and EPC A and B ratings. It features an eco-friendly biodiverse roof, cycle racks to accommodate up to 36 bikes, and a WiredScore Gold certification with fibre optic internet. Wool + Tailor further benefits from outstanding natural light throughout, which is enhanced by floor-to-ceiling heights of up to 3.3 metres, and a 7th floor communal business lounge with dual aspect terraces offering panoramic views of the City and beyond.

Allsop and Anton Page jointly represented Maurice Investments on the sale. Cushman & Wakefield advised Meadow Partners.

Matthew Millman, Partner at Allsop, said: “The sale of Wool + Tailor concludes a highly successful business plan for our client where we advised on the off-market acquisition, letting, then disposal of what has become one of the finest buildings in Aldgate. Wool + Tailor satisfies the requirements of the modern investor and occupier for ‘best in class’ office space with strong ESG credentials, excellent connectivity and plentiful nearby cafes, bars and restaurants.”


Notes to editor

About Allsop

Allsop is an independent property consultancy with a market-leading reputation for high quality service and integrity, covering the UK from our offices in the West End, the City and Leeds. In addition to our position as the UK’s largest and most successful property auction house, we offer an extensive range of services for residential, commercial and mixed-use property.

We have the people, the skills, the experience and the drive to maximise value for our clients in any given market and like to do business in our own distinctive Allsop style – open, friendly and honest. Clients appreciate this, which is why so many stay with us over the long term.

In an unpredictable world, Allsop remains a reassuringly constant source of market knowledge, insight and expertise. Visit: www.allsop.co.uk

Contact

For further information or supply of images contact:

SEC Newgate UK on 0203 757 6890 or allsop@secnewgate.co.uk

Or email Victoria Lloyd-Jones, Head of Marketing at Allsop at Victoria.Lloyd-Jones@allsop.co.uk

Leave a Reply

Your email address will not be published.