La Française Real Estate Managers, acting on behalf of two collective real
estate investment vehicles, has acquired a Belgravia office building for £55m
from Grosvenor’s UK property business.

10 Ebury Bridge Road is close to Victoria Station and Sloane Square. Designed
by London-based architects Rolfe Judd, the office scheme was originally
constructed in 1992 and offers 62,587 sq ft of flexible office and ancillary space
over lower ground, ground and six upper floors.

Located on an island site, the property is one of very few self-contained
headquarters office buildings in the Victoria submarket. It includes shower
facilities, a staff canteen, electric vehicle charging station and gated bicycle
spaces.

The building is fully let under a 15-year lease expiring in 2038 to an Italian
multinational energy provider, and has been the firm’s London headquarters for
more than thirty years. The building benefits from 3.6 metre (38.75 sq ft) slab-to-slab heights and
largely column-free floor plates.

Refurbishment works, due to be completed imminently, have been undertaken
by the tenant to enhance the sustainability credentials of the building. These
include achieving an EPC rating of C, compliant with the compulsory 2025
deadline.

Peter Balfour, head of real estate UK for La Française Real Estate Managers,
said: “As one of the few self-contained headquarters office buildings in
Belgravia, the rarity factor, as well as the strong covenant, long unexpired lease
term and potential for conversion to other commercial uses, should sustain the
long-term value of the investment. Furthermore, as our first acquisition in the West End of London, the asset is
complementary to our existing London portfolio.”

La Française Real Estate Managers was advised by RX London. For more information speak to Hugh Ronan.  The vendor, Grosvenor, was advised by JLL.