Aldwych House, London
Dates: Acquired in 2011; exited in 2018
Size: 163,000 SF
Sale price: 250 million GBP
Taurus acquired Aldwych House, a 163,000 square foot office project located in the mid-town area of central London, for £80 million during the Greek crisis of 2011 in a joint-venture with Rowan Asset Management and GI Partners with a plan to increase value through strategic repositioning of the property.
The property was a sub-optimally managed urban asset in a highly desirable and emerging location with a significantly below-market rent roll. Through pro-active management, and a significant strategic capital improvement program, Taurus intended to bring the property from a Class B minus to a Class A quality level and improve the rent-roll in terms of both higher rent and higher quality of tenancy.