In 2016, Avignon acquired this off-market property situated in a central London location, approximately 200m away from Euston Station.
At the time of acquisition, the property had been under-managed. Our long-term hold strategy involved addressing all outstanding rent reviews, enhancing covenant strengths of new occupants, and renegotiating existing leases.
Following intensive asset management throughout 2023, we realized a 33% increase in rental income. This was achieved by the re-gearing of tenants leases, and subdividing one unit, resulting in an 80% boost in income for that particular space. We then successfully disposed of the asset in December.
Gateley Legal Plc and Clifton Agency acted for Avignon Capital during this transaction.