The Stevens & Bolton real estate team has advised new client, Santalucía, the Spanish insurance group, on the £31m acquisition of an office property in London's prestigious Golden Square. This was Santalucía's second major transaction in the UK and is part of its broader real estate diversification strategy in Spain and across Europe.
Santalucía is a market leading insurance group, with over seven million customers and a widespread network of 400 agencies and sales offices across Spain. The acquired property is currently let to UK media company Clear Channel UK Ltd. Situated in the heart of London's vibrant Soho, close to Piccadilly Circus, Regent Street and Carnaby Street, the building underwent a full renovation in 2016.
The acquisition, alongside the significant purchase of a property in Paris, is part of Santalucía's growth strategy to identify real estate investment opportunities and further establish its position as a key player in the market.
Ian Craig, real estate investment Partner, comments: “We were delighted to assist Ignacio and his team at Santalucía with this important acquisition of a best-in-class asset in Central London. Working closely with Santalucía, Elisi Capital and CBRE and in a very competitive market we were able to close the deal within a tight timescale. This transaction shows the enduring value of well-located and well-let assets in Central London.”
Ignacio Palazón, Property Director at Santalucía comments: “The purchase of these two properties in London and Paris is aligned with our growth strategy and reflects our firm commitment to diversifying our real estate assets both nationally and internationally. Our collaboration with Stevens & Bolton on this project has been a great success.”
The Stevens & Bolton team was led by Ian Craig with support from Kayleigh Stevenson and Max Swann.
Ian Craig