European investor picks up six-unit portfolio at The Hexagon

27th
March

• By PrimeResi • 27th March 2020
Covent Garden, London
Mayfair Private Office
A European investor has bought half a dozen apartments at The Hexagon scheme in Covent Garden in a £7.5m bulk deal.The Squire & Partners-designed project, which has interiors by Michaelis Boyd, wasdeveloped by BNP Paribas Real Estate in its debut London play; the redesigned former 1960s office tower on Parker Street delivered 51 one-, two- and three-bed apartments across 15 floors, and was launched onto the sales market in 2016. The acquisition adds to the unnamed investor’s already sizeable portfolio of units in the area. Boutique firm Mayfair Private Office acted for the purchaser, and said demand for such units would remain strong even during the current crisis. The vendor was represented by Savills.Cameron Smith of Mayfair Private Office told PrimeResi: “The Hexagon is an iconic modernist building and the only tower in Covent Garden, designed by world-renowned architects Squire & Partners with interiors by Michaelis Boyd. A hidden gem located in one
of London’s most vibrant boroughs, which is why we advised our long standing European client to acquire six apartments in the building for investment, allowing them to capitalise on the multi-purchase stamp duty saving.“This £7.5m acquisition enhances their already sizeable portfolio in the area which is fast becoming one of London’s most popular districts.“The Hexagon represent very good value for long term growth, in an area where over the last five years new build developments have consistently been trading in excess of £2,500
psf. Situated within walking distance of Kings College and LSE University the location speaks for itself, as well has having great transport links to both the City and West End.“Even in this unusual time there is continued lettings demand. We worked closely with James Upton-Prowse from Savills who represented the vendor.”

 

European investor picks up six-unit portfolio at The Hexagon

 

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Prime Resi


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