Riverside Capital completes purchase of prime, £47.15m property in the City

Riverside Capital has completed its purchase of Sherborne House, a 57,777 sq. ft prime, mixed-use building on Cannon Street, London for £47.15 million.

The building, which lies adjacent to what will be one of two new Bank Station entrances, comprises six floors of offices together with three retail units on the ground floor and basement. Retail tenants are Holland and Barrett, L’Express and Fuller Smith & Turner.

Cannon Street has seen huge development in recent years, bringing new life to the area, including the new £1 billion Bloomberg Place as well as the nearby five-star Ned hotel. Deliveroo has also recently set up its European headquarters in the former LIFFE building on Cannon Street.

Dominic Wright, Group Chief Executive, said: “We are delighted to have secured this asset. Properties like this are a rarity in the current market of exceedingly low supply and we are thrilled to provide our investors with such an opportunity. We’re hugely excited about this project and have already begun to implement an intensive asset management programme that we hope will extract the highest possible returns out of this prime property.”

Colliers International acted as adviser to the vendor, whilst Riverside Capital were unrepresented.

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