The University of Law is selling its Bloomsbury campus.
RollOnFriday broke the news in May that Montagu Private Equity was planning to strip the former charity of its assets, sorry, sale and lease them back. Now a 0.8 acre pied-à-terre "in the heart of vibrant Bloomsbury" can be yours for just £51.65 million.
The agents have wisely played down ULaw's recent loss of major clients like Clifford Chance and promised a "secure income opportunity" from a ten year lease instead. However they are even more keen to emphasise that as the buildings are not listed there is "excellent medium term redevelopment potential" once the lease expires. The brochure offers a number of options to get the Qataris salivating, including a "Brand new educational facility to cater for the strong local demand", "student accommodation" and a "luxury hotel".
In 2010 all eight campuses were valued at £65 million, so if Montagu manages to flog just one (albeit probably the most valuable one) for £50 million, it could exit its investment with its pockets well-lined. And by 2024 ULaw's noble progression from charitable education provider to boutique Travelodge could be complete.
RollOnFriday offered Montagu £500 in cash and discounted advertising to make up the difference, but has not heard back.
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RollOnFriday broke the news in May that Montagu Private Equity was planning to strip the former charity of its assets, sorry, sale and lease them back. Now a 0.8 acre pied-à-terre "in the heart of vibrant Bloomsbury" can be yours for just £51.65 million.
The agents have wisely played down ULaw's recent loss of major clients like Clifford Chance and promised a "secure income opportunity" from a ten year lease instead. However they are even more keen to emphasise that as the buildings are not listed there is "excellent medium term redevelopment potential" once the lease expires. The brochure offers a number of options to get the Qataris salivating, including a "Brand new educational facility to cater for the strong local demand", "student accommodation" and a "luxury hotel".
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How it might look: the new ULaw |
In 2010 all eight campuses were valued at £65 million, so if Montagu manages to flog just one (albeit probably the most valuable one) for £50 million, it could exit its investment with its pockets well-lined. And by 2024 ULaw's noble progression from charitable education provider to boutique Travelodge could be complete.
RollOnFriday offered Montagu £500 in cash and discounted advertising to make up the difference, but has not heard back.