Tikehau Capital, the global alternative asset management group, in a joint venture with Best Star Real Estate Fedaia (BSREF), a partnership between Best Star Real Estate and Fedaia Partners, has acquired the leasehold interest at 83–85 Pall Mall in London.
The 45,000-square-foot Grade II listed building, located adjacent to the Royal Automobile Club on Pall Mall, has been acquired from Railpen, the investment manager for the railways pensions scheme. The Royal Automobile Club is the only current tenant in the building, occupying the fourth floor.
Tikehau Capital and BSREF plan to upgrade the asset into a class A/energy-efficient office building, targeting market-leading green certifications, to cater to range of occupiers looking for quality space in one of the most sought-after London’s submarkets.
This transaction represents the fourth U.K. acquisition by Tikehau Capital Real Estate Value-Add fund, Tikehau Real Estate Opportunities 2018, and the first join
