AXA Real Estate Investment Managers has confirmed that its Development Venture III fund has entered into a partnership with Favermead to speculatively develop Bath House at 60 Holborn Viaduct, EC1, as revealed by Estates Gazette on 23 October.
Favermead is the property company of billionaire art collector and philanthropist Professor Nasser D Khalili.
The transaction allows the partnership to deliver a new Grade A office building at a timely point in the market cycle, when a rapidly diminishing supply of this type of product is not expected to match demand. It will be one of the few developments in the City of
Planning consent has been granted for the new 215,000 sq ft Kohn Pederson Fox Associates-designed office building, located in the City of
This deal is the first