Billionaire entrepreneur Teddy Sagi’s investment firm on Monday completed the £245 million sale of a large estate in Holborn to investors wanting to benefit from the arrival of Crossrail.
Sagi’s LabTech has sold a cluster of shops and offices, known as the Holborn Links Estate, to investment giant Tristan Capital Partners on behalf of one of its funds, and property company Cording Real Estate Group.
The site is home to some 50 tenants and the new owners will look to refurbish part of it.
They reckon there will be a queue of businesses wanting to take space when the delayed Elizabeth Line opens, and amid a shortage of supply in the area.
Mark Millar at Cording said Crossrail is expected to bring an additional 1.5 million people within 45 minutes commuting distance of the capital, “creating a ‘halo effect’ around the new stations that will strongly benefit the Holborn area”.
LabTech, which owns a number of co-working offices, will re-invest the proceeds in London and overseas.
