Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Soho landlord Shaftesbury snaps up Jaeger headquarters for £30.75m


Russell Lynch
Monday 24 March 2014 16:31 GMT

Derwent London has sold Jaeger's London headquarters to Soho landlord Shaftesbury for £30.75 million.

The acquisition of the tired Jaeger House at 57 Broadwick Street, which has been the firm’s HQ since 1970, opens up redevelopment opportunities for Shaftesbury when the retailer’s lease expires next year. The building is just a few minutes walk from the Dean Street entrance to Tottenham Court Road’s new Crossrail station.

The deal comes hard on the heels of the agreement to buy the Newport Sandringham block in Chinatown earlier this month, and means that Shaftesbury has now spent more than half of the £157 million it raised from investors in a recent placing. It takes the value of the landlord’s holdings in Carnaby and Soho to £860 million.

Demand for property in the capital is so high that the building changed hands for £7 million more than the original asking price. Derwent said the sale fitted its “strategy of making opportunistic sales into a competitive investment market”.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies


Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in