Dukelease retained on Panther House Development
Credit Suisse Asset Management Global Real Estate Acquires Panther House, 156 – 164 Gray’s Inn Road, Farringdon, London
A fund managed by Credit Suisse Asset Management Global Real Estate has acquired Panther House, 156 – 164 Gray’s Inn Road, Farringdon, London from Argo Real Estate, Investec and Dukelease, to speculatively develop a mixed-use scheme. Dukelease has been retained in the transaction and appointed as development manager for the project. Three neighbouring buildings will be redeveloped in line with the planning consented scheme designed by architects Allford Hall Monaghan Morris. The project will include ca. 82,000 sqf of office, residential and retail space.
The project will deliver a highly specified, sustainable office building with exemplary on-site amenities, as well as attractive residential space with terraces. A significant proportion of the existing buildings including the character warehouse will be retained for the new development. The design will offer a blend of modern architecture with retained brickwork and original features.
Commenting on the deal, Jin Cui, Head of Asset Management UK at Credit Suisse Asset Management Global Real Estate, said: “We are delighted to work on this development with Dukelease. Delivering this scheme fits fully within our UK strategy of delivering high quality office space in core locations in major cities.” Richard Leslie, Dukelease Chief Executive said today: “We are thrilled to have brought Credit Suisse Asset Management into this deal. We look forward to continuing on the journey and taking the scheme forward to deliver a best-in-class development for this special and historic corner of London”
This is the third acquisition in the UK since Credit Suisse Asset Management Global Real Estate appointed a real estate team in the UK in 2019 headed by Anthony Leonard as Head of Real Estate UK and Jin Cui as Head of Asset Management UK in Real Estate UK. The previous acquisitions were:
- 120 Edmund Street, a ca. 140,000 sqf office building in central Birmingham, and
- a 23-acre site in Bracknell, Berkshire to speculatively build a 350,000 square-foot business park in joint venture with industrial developer and asset manager Chancerygate and the international real estate firm Hines.
The Credit Suisse Asset Management Global Real Estate‘s portfolio in the UK now totals 19 properties.
Cushman & Wakefield and Knight Frank acted on behalf of Dukelease and Credit Suisse Asset Management Global Real Estate.