RE Capital has acquired The Corner Building for £21.125m in joint venture with SFO Capital Partners.

The 18,859 sq ft office building is 58% let and is situated near proximity to Farringdon Crossrail station.

RE Capital intends to reposition the building as a Grade A office asset through a planned capex program. Vacant floors will be refurbished to CAT A+ standards, and the roof will be transformed into a community terrace.

Mohamad Abouchalbak, CEO of SFO Capital Partners commented: “Having benefitted from significant investment over recent years, Farringdon is regarded as one of London’s most thriving, well-connected and desirable office destination. When Crossrail arrives in March 2022, Farringdon’s position as a key transport hub will further consolidate the commercial appeal of the area. We are pleased to partner with RE Capital on this investment. Our strategy for this prime commercial asset will see significant upgrades and renovations made with a view to lease the new grade A space.

Given its strategic location and architectural prominence, the Corner Building is extremely well positioned to capture the increasing demand witnessed in the Farringdon market”

RE Capital & SFO Capital Partners were advised by Gunnercooke LLP.