Resolution acquires £90m development from The Crown

Resolution has acquired the Quadrangle block from The Crown Estate after paying £90m. The Quadrangle based on Oxford Street, London represents a good deal for Resolution after The Crown were expecting more that £100m for the sale.

Robert Wolstenholme at Resolution says the sale highlights the strategy to make selective acquisitions. He goes on to say that the Quadrangle offers a number of asset management opportunities and broadens Resolutions interest in the Soho market.

In total there is over 100,000 sq ft of office space with 13 retail units.

Paul Clark, director of investment for The Crown, says the sale is part of their strategy to relinquish non core assets so they can concentrate on core London holdings.

Related office space articles

• Soho office space available
• Wragge and Co take pre let in Birmingham
• Regus GM role in Crawley
• Property advisors get London office space
• Planning committee restrict height of new London development