Key Details

Overview

One Smart's Place at 182-184 High Holborn office building in Covent Garden, London WC1.

Located in Covent Garden at the junction of High Holborn and Smart's Place, the property is directly opposite the upcoming redevelopment of 21-31 Oxford Street and near Central St Giles.

History

The building was constructed in 1985 and refurbished in 2006. In 2015 the building comprised 29,848 sq ft (c. 2,773 sqm) of office space arranged over basement, ground and five upper levels.

2017 January - Planning committee will discuss the planning permission.

2016 September - Planning application submitted for remodelling, refurbishment and extension of existing office building including formation of private terraces, rooftop plant, new entrances and all other enabling works in connection with the use of the building as offices (Class B1) with retail/office uses (Classes A1/B1) and flexible B1/A1/A3 floorspace at ground level. Camden Council application no 2016/5141/P.

2016 Q4 - Vacant possession obtained, Morgan Capital starts to manage the development.

2015 October - AXA Investment Managers - Real Assets completes the acquisition of 182-184 High Holborn on behalf of its clients, for a total consideration of approximately £29 million (c.€39.4 million). Th building was then fully occupied by a single tenant until the fourth quarter of 2016. Upon lease expiry, AXA IM - Real Assets will undertake a comprehensive refurbishment to capitalise on the increasing demand for modern office space in this popular midtown location. Colliers acted on behalf of AXA IM - Real Assets and Savills acted on behalf of the vendor. Huw Stephens, Head of UK Transactions, Real Assets, commented: "This acquisition presents an attractive opportunity within a prime location in London's highly sought-after Midtown to redevelop a core asset, adding value through both an extension of the building's current floor plan and a comprehensive refurbishment. Covent Garden has been experiencing record low vacancies and there is clear demand for Grade A office accommodation from a broad range of occupiers, with the area's popularity expected to receive a further boost from the opening of the nearby Crossrail at Tottenham Court Road in 2018."

Also known as the Arab Press House.