We have advised Colville Estate Properties Ltd, a private family-owned property company who own a number of properties in Chancery Lane, for over fifteen years.
Our brief is to provide overall strategic advice including investment, development, leasing and building management advice.
We have formulated a pro-active asset management regime which has included buying in long leasehold interests which have then either been recycled into modern long leasehold interests and sold to third parties or implemented and managed direct refurbishments and lettings.
The most significant initiative has been to agree a new lease with Derwent London over a number of existing buildings which involved a complicated exchange of existing interests. This has resulted in Colville Estate Properties acquiring the freehold of what is a major new landmark building of approximately 100,000 sq ft at 40 Chancery Lane, WC2, developed by Derwent London. The entire building was pre-let to Publicis (Saatchi & Saatchi).
The company has recently “bought in” two long leasehold investments on the Estate in accordance with its active management approach and continues to seek income enhancing opportunities with an eye to the long-term.