July 2016 – New Acquisition
Tellon Capital have acquired Edward House, 2 Wakley Street, EC1. The property, located in the central London borough of Islington, is situated within the rapidly expanding “Technology Belt” of King’s Cross, Farringdon, Clerkenwell and Shoreditch.
The property comprises a modern freehold office building arranged over ground and 4 upper floors with a gross area of 11,790 sq ft. The property is fully let to three office tenants providing a highly reversionary rent at an average of £23.00 per sq ft.
The property offers a number of value enhancement opportunities including a ‘repositioning’ via a refurbishment and/or redevelopment. The acquisition highlights Tellon’s ability to uncover and secure well located assets with the potential for significant investment returns.