LONDON, England – December 13, 2018 – Soor Capital completed the acquisition of a premium Grade A office building in the heart of the City of London. The historic property at 23-26 Austin Friars was acquired for £39 million.
Strategic City of London Investment
Soor Capital acquired the distinguished 55,853 square foot office building, strategically positioned in the traditional core of the City of London. The property occupies a prominent corner location at the northern end of Austin Friars, approximately 350 meters from the Bank of England and key transport hubs including Moorgate and Liverpool Street stations.
The building represents a unique combination of heritage and modern functionality, featuring an attractive Grade II listed Victorian façade originally designed in 1888 by renowned architect Sir Aston Webb, who also designed the façade of Buckingham Palace. Behind this historic exterior lies Grade A specification office accommodation arranged over basement, lower ground, and five upper floors, centered around a spectacular full-height atrium following a comprehensive redevelopment in 2005.
Exceptional Asset Quality
The property offers best-in-class office specification with highly efficient floor plates ranging from approximately 4,500 to 9,000 square feet. The floors benefit from excellent natural light from three elevations and are arranged around a central lift core and the impressive atrium feature.
"This acquisition represents our successful entry into the London market with a trophy asset in the prime City core," said a spokesperson for Soor Capital. "The building's exceptional quality, historic significance, and unparalleled location make it an ideal cornerstone investment for our UK portfolio."
Investment Highlights
The property offers compelling investment characteristics:
- Prime City location within walking distance of Bank, Moorgate, and Liverpool Street stations
- Historic significance with Grade II listed Victorian façade by Sir Aston Webb
- Modern Grade A specification following comprehensive 2005 redevelopment
- Efficient floor plates with excellent natural light and flexible configuration
- Central London trophy asset in the heart of the financial district
- Strong value-add potential in prime institutional-quality building
Strategic Location
The property benefits from its position in the traditional core of the City of London, surrounded by major financial institutions and within the immediate vicinity of companies including BlackRock, China Construction Bank, M&G, WeWork, ING, Axa, and Aon Benfield. The location provides excellent access to retail amenities along London Wall, Liverpool Street, and Broadgate, with The Royal Exchange and Cheapside nearby.
The building's proximity to three of the City's key underground stations ensures exceptional connectivity, while Crossrail services at Liverpool Street further enhance transportation links for occupiers.
Market Context
This acquisition positions Soor Capital in one of London's most sought-after office markets. The City of London continues to attract significant international investment, with prime assets in core locations commanding strong occupier interest. The property's combination of historic character and modern specification appeals to a broad range of potential tenants in the financial and professional services sectors.
Local ownership in the vicinity includes sovereign wealth funds and global pension funds such as SAFE, CalSTRS, Mitsui Fudosan, and CIC, demonstrating the institutional quality of the immediate area.
About Soor Capital
Soor Capital is a private equity real estate firm offering comprehensive investment services across the USA, UK, Europe, and GCC regions. The firm specializes in acquiring institutional-quality real estate assets with superior locations and strong value-creation potential.
