Formerly known as Regent Arcade House, 25 Argyll Street was purchased in an off-market transaction for £48m in August 2012. Its central location at the apex of Mayfair, Fitzrovia, Soho and Marylebone made it a highly desirable building, but it was in need of asset management; poor interiors had given the property a bad name in the agent market. To turn this around, Riverside Capital renamed it and performed a rolling refurbishment programme over 3 floors, the lifts and reception: fitting out the 4th and 5th floors with the only Shoreditch-style designs in the West End. The result was newly signed tenancies with the likes of Spotify and H&M and a profit of £20m after 36 months.
“In this £48m off-market deal, we saw a chance to break with tradition and deliver a piece of Shoreditch cool to the old West End.”
- Sq. Ft. 64,656
- Purchase price £48m
- Sale price £75m
- Profit after costs £20m