ACRE Capital have advised Firethorn Living in the off-market acquisition of One Bessborough Gardens in Pimlico. The landmark asset is situated along the northside of the River Thames, fronting onto Vauxhall Bridge Road in close proximity to Pimlico Underground Station. Spanning 6 storeys and measuring 34,500 sq ft the building was formerly single let to the UK Government as MI5 offices.
Held freehold and vacant at the point of sale, it offered a high degree of future optionality for alternative uses, specifically in the Living Sectors. Subject to planning and prevalent permitted development rights, the building was acquired with the intention of converting from office into residential and bringing new life into the area.
Location: Pimlico, London
Property Type: Office / Residential
Transaction Type: Acquisition
Client: Firethorn Living
