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Press Release: Prime city property The Sugar Building snapped up by London Executive Offices

03rd August 2015

Prime city property The Sugar Building snapped up by London Executive Offices

3rd August 2015 London Executive Offices has acquired The Sugar Building at 5 Cheapside next to St Paul’s Cathedral from Amsprop, Lord Sugar’s privately owned real estate vehicle.

The octagonal office building, 40,126 sq ft in total over seven floors, has been acquired on a 15 year lease at an undisclosed rent. London Executive Offices, the capital’s most exclusive collection of five-star serviced and virtual offices in prime central London, is owned by Queensgate Investments, headed by property entrepreneur Jason Kow.

5 Cheapside is a prime city asset and will boost the LEO portfolio to circa 700,000 sq ft of prime office space in first-class locations, including 24 Berkeley Square, One Cornhill, 33 St James’s Square and 78-79 Pall Mall, 31 assets in total.

With 360 degree views over the city, 5 Cheapside stands on a prominent island site. London Executive Offices plans to rename the building and create grade A five star serviced office accommodation, with a contemporary fit out to the very highest specification, and floor to ceiling glazing overlooking the dome of St Paul’s Cathedral and the capital’s skyline. The offices will be available from November. The acquisition comes at a time when there is a serious shortage of office space and high quality serviced office solutions.

Tim Giles, Chief Executive, London Executive Offices, said: “We offer the very best luxury five-star serviced offices in prime central London and we’re delighted to have secured such an iconic asset – it’s an excellent addition to our portfolio and really complements our other centres by offering our customers a choice of style and location within the City core. The views over St Pauls have to be seen to be believed.”

Ends

For more media information, contact Marion Hardman at Four Communications on 07961 578 401 or 020 3697 4358 ormarion.hardman@fourcommunications.com

The full press release can be viewed here

Notes to Editors

London Executive Offices (‘LEO’) is a leading provider of luxury office accommodation and high quality serviced office space, virtual offices and meeting rooms. LEO’s premium portfolio, located in Prime Central London, consists of 31 properties, ranging from listed period buildings to modern purpose-built offices.

The portfolio has been assembled over the past 18 years and is made up of owned, leased and managed buildings. Across its portfolio, the Group has over 3,000 customers ranging from large blue chip organisations to small start-up companies. LEO replicates a big company infrastructure for its clients, providing a range of state-of-the-art technology, business support and administrative functions at an efficient cost for smaller working groups.

LEO’s portfolio spans Mayfair & St James’s, Knightsbridge & Belgravia, Kensington & Chelsea, Midtown and the City and includes:

Mayfair and St James’s: 14 Curzon Street, 32 Curzon Street; 8-10 Hill Street; 17 Cavendish Square; 23 Berkeley Square; 24 Berkeley Square; 23 King Street; 28 Grosvenor Street; 29 Farm Street; 33 St James’s Square; 42 Brook Street; 52 Brook Street; 53 Davies Street; 67 Grosvenor Street; 78-79 Pall Mall; 84 Brook Street

Knightsbridge and Belgravia: 2 Eaton Gate; 45 Pont Street; 65 Sloane Street

Kensington and Chelsea: 81 Fulham Road

Midtown and the City: 1 Cornhill; 1 King Street; 148 Leadenhall Street; 15 Old Bailey; 16 Old Queen Street; 41 Lothbury; 85 Gresham Street; 288 Bishopsgate; Central Court; Hudson House

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