Oxygen has acquired 11 Leadenhall Street, a 15,117 sq ft freehold office building comprising a basement, ground floor and seven upper floors, including a retail unit let to Starbucks. The building is let to seven tenants with an occupancy rate of 91%.
The acquisition demonstrates Oxygen’s belief in the future performance prospects for best-in-class offices in core Central London locations. The company is poised to take advantage of compelling opportunities to purchase under-performing office assets which require capital investment and a specialist skill set to reposition them.
Oxygen has a proven track record of creating value for its clients and consistently applies its unique expertise and knowledge across asset and development management, generating long term investment performance for these types of assets.
Jonathan Barber, Head of Asset Management at Oxygen, comments:
“11 Leadenhall Street is the first acquisition for our value-add office strategy in Central London. The building fits our investment criteria and our plan will be to upgrade the building to provide best in class offices and new amenity facilities with sustainability principles embedded into our decisions from day 1.”
Aston Woodward, Founder at Oxygen says:
“In 2005 our first asset repositioning project was on Leadenhall Street, and some years later we are back. We believe there is an excellent opportunity to capture growth by delivering our planned upgrades to the building and creating design led fitted offices across the floors aligned to current occupier requirements.”