UK Case study:

Cityhold Office Partnership

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Ambition

Back in 2011, JLL advised Cityhold on the purchase of
1 Kingdom Street, London, W2, their first investment into the UK real estate market. After six years and a merger with TH Real Estate, the new joint venture Cityhold Office Partnership was keen to realise the value of early investments, 1 Kingdom Street and The Peak, London. The sale of these properties would crucially provide them with additional capital to pursue an ambitious London investment programme for 2017 and beyond.

Achieved

Having added significant value to 1 Kingdom Street through pro-active asset management, JLL was asked to use our wide access to different global capital sources to privately market the freehold interest for sale. Key to successfully targeting potential buyers was our strong real estate and occupier insights around Paddington and our development team’s indepth knowledge on the impact of Crossrail in this area.

Our financial modelling helped articulate the future performance potential of a sub market that is outside London’s core CBD. The result was a premium sale price and, combined with our earlier sale of The Peak, the generation of over £435m for allocation to the joint venture’s reinvestment strategy ambition. JLL continues to advise Kingdom Street’s buyer on the management of the asset.

Perspectives & Insights