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      Who we are/ Our Teams/ Capital Markets/ Completed Transactions/ Grosvenor House, Drury Lane Deal

      Investment purchase of 169-bed student accommodation with basement nursery

      Grosvenor House, Drury Lane, London, WC2

      Client
      Standard Life Assurance Ltd

      Price
      £68.8m

      Services provided

      Bidwells acted for the purchaser, Standard Life Assurance Ltd, and advised throughout the complex legal process, offering additional building surveying and planning services.

      The property was let to the London School of Economics with a break in spring 2021. The rent was significantly reversionary and since the property was purchased, the break has been activated and we have managed a tender process to appoint a direct let manager. The building will be refurbished over the summer and let directly to students from September 2021, enabling our client to maximise their income and meet their investment strategy for value-add assets within the sector.

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