Back to blog
Tammy Newell
Tammy Newell
  • 1 Minute Read
  • 19th March 2012

Almacantar Buys CAA House and 1 Kemble Street in Holborn for £110m

The property development company lead by Mike Hussey, Almacantar, have purchased it’s third major London property in under one year, spending £110m on CAA House, and neighbouring 1 Kemble Street in .

CAA House, Holborn Office Space, WC2

CAA House and 1 Kemble Street are inter-connected buildings with a combined 229,164sqft of floor space. Currently leased by the Civil Aviation Authority who pay a rental rate of £27.11 per square foot, totalling £6.2m per year, the buildings will remain freehold until 2019.

Mike Hussey told press, “We are delighted to have acquired CAA House and 1 Kemble Street. The properties are a good fit for our portfolio extending the timeline for our value-add activities to 2020. It is a location that we expect to perform strongly given its proximity to and the restricted supply of office space in the ."

Almacantar’s portfolio also includes Centre Point on and the Tower, which was bought for £80m. It’s thought that Almacanter still have £200m left in their budget, so stay tuned for more property developments over the next year.

If you're looking for office space in Holborn, Search Office Space has a variety of business centres and office space solutions. Call us today on 0800 524 4649 to discuss your requirements.