Newly launched investment management company Fabrix Capital, represented by Stirling Ackroyd, has acquired the freehold interest of 1 Bath Place, Rivington Street, EC2 from The Number One Bath Place Partnership, represented by Brian Croker Property Consultancy. The purchase price was £3.15 million.
The property comprises 4,000 sq ft of office space arranged over four floors and forms part of the Bath Place development which comprises seven properties around a central courtyard located between Old Street and Rivington Street.
Louis Duffield, Investment Manager of Fabrix Capital said: “1 Bath Place is our third acquisition in Central London since setting up in October last year and is a further demonstration of our ability to transact at speed in off-market situations.
“The building is relatively underwhelming at present but we have exciting plans to reposition and transform it to match the quality of its prime Shoreditch location.”
Helix Property Advisors has been appointed to manage the property as well as the wider Fabrix portfolio.
Madeleine Walkley, Property Manager at Helix said “It’s great to be working with the team at Fabrix from the beginning, we are delighted to be appointed as managing agents looking after a portfolio of such interesting assets.’’
Brett Sullings of Stirling Ackroyd, who advised Fabrix Capital added: “This property provided a rare off-market opportunity to acquire a vacant freehold building in the Heart of Shoreditch, offering a great opportunity to deliver a comprehensively refurbished building for the more creative sector occupiers looking to be a part of the Shoreditch community. Fabrix are firmly on our radar as one of the most dynamic rising stars of the UK property market.”
Fabrix Capital continues to aggressively grow its UK portfolio, focussing on London and key regional cities.
