8/10 Paul St
London
- 10,284 sq ft
955 sq m - Offices / Hotel Development
- N/A
Location
Situated within the City ‘fringe’ area, less than 0.5 miles south east of Old Street underground station and
0.5 miles north of both Moorgate and Liverpool
Street stations.
Description
The property at the time of purchase comprised a three storey, 10,284 sq ft (955 sq m) 1980s office block with 18 months of income.
Asset Management and Sale
Planning permission was obtained for the redevelopment of the property to form a part six part eight storey hotel, providing 113 rooms, a bar and residents’ lounge.
Investment Metrics
Acquired in March 2012 for £4.2m and sold in April 2014. Considerable value enhancement was gained from obtaining planning permission for a hotel development and subsequently selling the property pre-development.
