The Point, Paddington, W2

The Point, Paddington, W2

All Properties

A 50% interest in The Point, alongside Hermes Real Estate, was acquired in 2004 on behalf of WELPUT for £64 million. The building was fully let to Orange, with a number of sub-tenants in occupation including M&S.

Grafton Advisors managed the entire building throughout the Joint Venture's ownership, improving the rental profile of the building through a combination of surrenders, refurbishments, re-lettings and regears. Notably, a lease regear was carried out with Orange (Everything Everywhere) to extend the term to 2028 and increase the rent. 

Following M&S’s decision to exercise a break clause on its four floors of the building, these floors were refurbished and re-let achieving rents of up to £62.50 psf, at the time a top rent in Paddington.

The team sold the entire interest of the property, on behalf of WELPUT and its JV partner, in 2014 for £210 million.

Client: WELPUT
Village: Paddington
Tenure: Leasehold
Uses: Offices
Size: 235,000 sq ft (21,800 sq m)
Status: Sold
Freeholder: The Canal and River Trust
Architect: Griffiths Design Associates (floor refurbishments)
The Point, Paddington, W2
The Point, Paddington, W2

Location

The Point, Paddington, W2

The Point, Paddington, W2
W2 1AG