How using London market insights and financial modelling secured sale
A look at how Cityhold and JLL worked together to privately market a freehold interest.
Back in 2011, we advised Cityhold on their first foray into the UK real estate market. After six years and a merger with TH Real Estate, the new joint venture, Cityhold Office Partnership, wanted to realise the value of early investments, 1 Kingdom Street and The Peak, both in London, to pursue an ambitious investment programme in the city.
How we worked together
Our role was to use our access to different global capital sources to privately market the freehold interest of 1 Kingdom Street for sale.
We worked in partnership to target potential buyers. A key part of our strategy was to use our real estate and occupier insights in around London’s Paddington.
While our in-depth knowledge of the impact of Crossrail – a significant new transport link – in the area helped highlight future growth potential.
By using financial modelling, we offered insights and analysis on the future performance potential of a sub market that is outside London’s core Central Business District (CBD).
This collaboration, in-depth preparation and analysis helped achieve a premium sale price.
Combined with our earlier sale of The Peak, we generated over £435m for the joint venture’s reinvestment strategy ambition. JLL continues to advise Kingdom Street’s buyer on the management of the asset.