265 The Strand, London

Backed by by Baupost, the team bought the former London HQ of Exxon Mobil.

The headquarters building is adjacent to The Royal Courts of Justice and occupies a prominent location in London.

The rear of the building (Clements Inn) was separated and sold to The London School of Economics. The front section underwent a comprehensive remodeling including the dropping of the ground floor slab to create at new entrance onto The Strand.

The resultant building comprised asset 76,000 sq ft of air-conditioned office space.

The building was leased to Covington and Burling, a major US law firm and sold to CGI on completion.

The project successfully exceeded the target IRR of 20 and 2x equity multiple target set.

Project Details

Services provided
Asset Management | Leasing Management

Mix of Uses