Macquarie Capital Principal Finance (Macquarie) has announced the sale of 1-6 Tavistock Square (Tavis House) to private equity group HIG Capital, for over £33.1 million.
Tavis House is a 10-floor office building situated on the corner of Tavistock Square in Bloomsbury, London. The property is currently held on a long-term 78-year leasehold with Bedford Estates.
Macquarie Principal Finance first acquired Tavis House in 2014, as its first commercial real estate acquisition in the UK. The building has had a sole tenant for the duration of Macquarie’s ownership and remains under a long-term lease agreement.
Alexi Antolovich, Global Co-Head Real Estate, Macquarie Capital Principal Finance said: “Tavis House has been a very successful investment for us and in-line with our strategy has delivered stable capital returns and a long-term income stream – and we wish HIG Capital all the very best with the property in the future.”
Macquarie’s Principal Finance team provides flexible primary capital and secondary market investing solutions for corporate and commercial real estate clients across Europe, North America, and Australia. The Tavis House sale follows the team’s joint venture with Sun Hung Kai & Co and DPK Quay Limited, to acquire London’s 17 Columbus Courtyard from CWT International Limited for around £110 million in December last year.