Habro Property, the busy real estate investor which acts on behalf of Danish clients, has exchanged to buy Tower House in London's Covent Garden from Shaftesbury Capital for around £57.5 million, CoStar News understands.
The 53,700-square-foot property is a corner building at the junction of Southampton Street and Tavistock Street with views towards the Piazza. Tenants include outdoor sports clothes specialist Ellis Brigham and energy group Bechtel.
Covent Garden estate landlord Shaftesbury Capital – then Capco – bought the building from Derwent London in 2016 for £67.5 million before purchaser’s costs.
Progress on the sale comes as Habro is understood to have exchanged on buying the original The Ivy restaurant, a celebrity haunt in London's Covent Garden, for close to the £40 million asking price.
CoStar News revealed last month that Habro was in talks to buy the famous eatery.
CBRE is advising on the sale seeking a price that reflects a 3.75% yield. The lease on the 14,466-square-foot building has 47 years left to expiry.
The iconic Art Deco-style restaurant at 1-5 West Street was established in 1917 by Abel Giandolini and maître d’hôtel Mario Gallati, who also went on to set up Le Caprice in St James's.
All parties declined or did not respond to a request for comment.