Longcroft House business centre sold

GKRE has successfully acted for the owners of Longcroft House Business Centre, London EC2, on the sale of the trading company to Clarendon Business Centres Limited who beat off stiff competition for the business.

The independent centre attracted a great deal of interest when confidentially marketed by GKRE, with several bids being received during the process. The transaction was completed with Clarendon within only 10 weeks of agreeing Heads of Terms, a period that spanned the Christmas break.

Longcroft House Business Centre was profitably run since January 2011 (although the centre has operated since 2007). The building was previously occupied by Royal Bank of Scotland.

The centre, uniquely set in its own courtyard opposite Liverpool Street station, comprises approximately 18,600 sq ft and has a current capacity of circa 244 workstations. Longcroft House had been well maintained by its owners and had recently been the subject of significant refurbishment.

Julian Cooper, Managing Director of Clarendon Business Centres said:

“We are delighted to have added a prestigious City location to the Clarendon portfolio. Longcroft House is operating at a consistently high occupancy and will continue to offer well appointed offices with excellent IT infrastructure. The centre will now benefit from the Clarendon network, and will retain the strong focus on customer service. We are pleased that negotiations were both swift and smooth, and that the transition has been seamless for clients.”

GKRE director Douglas Green commented: “We are delighted to have helped the shareholders of Longcroft House Business Centre achieve such an excellent price for the business and for the sale to have concluded so quickly after the Christmas period.”

 For enquiries, please call Douglas Green at GKRE on 020 3427 5678 douglas@gkre.co.uk