Eurazeo’s real assets arm has joined forces with Arax Properties to buy a €105m London office building from Stenprop.


Eurazeo Patrimoine and Arax have bought Euston House in the London Borough o Camden from the UK REIT. The property is 119,000sqft. It is equity invesment commintment after financing is around €40m, adding that the property will be refurbished to enhance the asset’s value.

Renaud Haberkorn, Eurazeo Patrimoine’s managing partner, said: “Contrary to the continental European markets, where values have soared over the past three years, the London office market experienced a slight correction recently, despite rental demand remaining strong.”

Euston House was built on Seymour Street, now Eversholt Street, in London in 1934 as the headquarters of the London, Midland and Scottish Railway.[1] It was later the headquarters of the British Railways Board.

Renaud Haberkorn, Eurazeo Patrimoine’s managing partner, said: “Contrary to the continental European markets, where values have soared over the past three years, the London office market experienced a slight correction recently, despite rental demand remaining strong.”

Source: IPE

Fulya Altunyay/[email protected]