September 23, 2019
Mactaggart Family & Partners (MF&P) have sold Holborn Hall to a private investor for the sum of £21,950,000, reflecting a NIY of 4.9% and a capital value of £835 per sq ft.
The former Holborn Town Hall, which comprises a mixed use Grade II Listed building, totals 26,280 sq ft and is located on the south side of High Holborn at its junction with New Oxford Street. The total passing rent is £1.1443 million a year.
MF&P is the co-investment management platform of Western Heritable, the Mactaggart family’s investment vehicle.
The Mactaggarts have acquired and developed over two million square feet of office, retail and hotel real estate and over 8,000 residential units across Glasgow, London and New York. The UK team is led by Sir John Mactaggart and CIO William Laxton and is focused on value add office transactions and the growth of their owner operated hotel platform, Nadler Hotels, led by David Orr.
Holborn Hall is a significant landmark on High Holborn and is easily recognised by the spectacular stone façade. The original features remain intact and the accommodation has been sympathetically refurbished to provide unique open plan and individual office suites let to occupiers including Mavens, Sonder Europe and the new Paculla Annia restaurant, Gezellig.
Hanover Green represented MF&P and Michael Elliott acted on behalf of the private investor.
