Mitie Acquires ESM Power
Mitie has agreed to acquire the Lincolnshire-based high-voltage electrical engineering business ESM Power in a deal worth £8.5 million. ESM Power will join...
Read Full ArticleGreat Portland Estates plc has announced the acquisition of King Sloane Properties Limited, which owns the freehold interests at 16/19 Soho Square.
The estate also includes 29/43 Oxford Street and 7 Falconberg Mews, W1, from Belgravia & Chelsea Property Services Limited. The buildings are located at the eastern end of Oxford Street and back onto Soho Square, just 100 metres from the new Tottenham Court Road Elizabeth Line station.
The cash consideration is based on a total property value of £70 million.
The 57,456 sq ft mixed-use buildings are currently multi-let at around £1.48 million per annum with vacant possession expected by March 2024.The 0.5 acre site benefits from planning consent to demolish the existing buildings and deliver around 90,000 sq ft of new Grade A office and prime retail space.
Alexa Baden-Powell, Senior Investment Manager at GPE said: “This acquisition represents a fantastic opportunity for us to develop a strategic West End freehold site into a best-in-class headquarters building with excellent sustainability credentials.”
Picture: a CGI showing the proposed new exterior of one of the Soho Square Estate properties. Image Credit: GPE
Article written by Ella Tansley | Published 23 August 2023
Mitie has agreed to acquire the Lincolnshire-based high-voltage electrical engineering business ESM Power in a deal worth £8.5 million. ESM Power will join...
Read Full ArticleM&E maintenance provider Mecsia has acquired the building services company Scott Combustion. The acquisition will allow Mecsia to expand its nationwide building...
Read Full ArticleCompass Group UK & Ireland has completed the deal to acquire the catering company, CH&CO. As part of the deal, catering brands Gather & Gather,...
Read Full ArticleInvestment firm Turn Croft Group has acquired FM company Lakethorne Limited. Lakethorne Limited is a soft services provider covering London and the South East....
Read Full ArticleApleona has acquired Neylons Facility Management, one of the largest owner-managed integrated facility management providers in Ireland. The acquisition means that...
Read Full ArticleA new facilities management investment vehicle has acquired Bedford-based cleaning services provider Sector Support Services Limited. Hygiacura Group Limited, led by...
Read Full ArticleCommercial cleaning services provider Bayleaf Facilities Management has acquired Kleen London. Bayleaf Facilities Management Director, Paul Babai, says the move will...
Read Full ArticleEuropean retail giant TK Maxx will open a second Oxford Street store at Mount Royal, leased by Great Portland Estates. The retailer will take 22,500 sq ft across the...
Read Full ArticleFM service provider Atlas has acquired commercial cleaning company Tudor Group for an undisclosed sum. Tudor Group is based in Eccles, Greater Manchester and provides...
Read Full ArticlePTSG has completed its first overseas acquisition, purchasing a fire solutions firm that operates across the Netherlands. Flame Control specialises in fire alarm...
Read Full Article