3-5 Bedford Row acquired on behalf of Frogmore

Daniel Watney is delighted to announce the acquisition of 3-5 Bedford Row, London WC1, on behalf of our client Frogmore. The property consists of three interlinked Georgian-style townhouses, currently providing 24,617 sq ft of office accommodation. The freehold was acquired from a private European investor advised by Alexander Reece Thomson LLP and BNP Paribas Real Estat.

Bedford Row is an elegant tree-lined street of Georgian terraces and has traditionally been London’s premier location for legal occupiers. Today, Bedford Row is popular with a diverse range of tenants due to its location in London’s burgeoning Midtown area and specifically its proximity to Chancery Lane, Holborn and Farringdon Stations.

The Grade II listed office accommodation is currently vacant, which Frogmore intend to refurbish to create best-in-class office accommodation with excellent sustainability (ESG) credentials.

Daniel Watney is delighted to be retained by Frogmore on the planning, led by Nick Delaney and Nadia Shojaie, and working alongside HUT Architecture to transform the building. In addition, the Daniel Watney agency team led by Charlie Browne have provided rental advice throughout and is instructed to market the new scheme, along with Farebrother

The price of £15 million reflected a low capital value of £580 per sq ft.

‘The purchase of 3-5 Bedford Row, for a low capital value per sq ft, offers excellent potential for Frogmore to refurbish the space to a high standard. The fundamentals of the building and its location, along with the proposed designs, will create exceptionally high-quality office space on Bedford Row, with excellent sustainability credentials that occupiers now demand but is currently in limited supply’.