Savills : Shoreditch sale to raise funds for social sector office hub

The freehold building, located 200 metres from Old Street station, is located in the heart of London's Tech City. It comprises former Victorian warehouses totalling 34,198 sq ft (3,177 sq m) of office and ancillary accommodation arranged over lower ground, ground and three upper floors with potential for considerable development. It is being sold on the basis of a six month leaseback to the vendor, CAN Mezzanine Limited.

Paul Bassi, associate director of Central London investment, says: "London is a global hub for technology companies and this area, in particular, has seen a huge rise in both office space let to tech companies but also owner-occupied buildings. The sale presents an opportunity to repurpose the former warehouse building to create best in class offices."

Clive Dove-Dixon, Chief Executive for CAN Mezzanine Limited, adds: "The sale is in line with our strategy to release equity to reinvest in developing a flagship hub for the Social Sector in Southwark. CAN has worked closely with the charity and social sector for over 20 years, and the proceeds from this sale will enable us to provide a new home for small and medium sized social organisations in the heart of Central London, from which they more easily collaborate with Westminster and the City."