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Executive Offices Group and Cadogan Estate join forces 12 January 2012
Executive Offices Group (EOG), has joined forces with Cadogan Estate in a ten year joint venture partnership, to be the serviced offices operator for Cadogan’s 11,000 sq ft office building at 45 Pont Street, Knightsbridge.
Constructed in the 1890s, this Grade II listed building features an original brick façade and sits at the corner of Knightsbridge’s Pont Street and Cadogan Square. The 50:50 profit share lease is to be granted following the completion of various refurbishments and fit out works.
The building will undergo a comprehensive refurbishment which will be funded by Cadogan. EOG will oversee the fit-out, furniture, artwork and ancillary items. Once the works are complete, the building is set to be fully operational and ready to open in early 2013.
The building interiors will be transformed in line with the premium ‘Argyll’ standard – the highest quality business centres and serviced offices that EOG offer. The property is surrounded by high net worth local residents to whom offices within easy reach of home would appeal. Furthermore this sought after area is especially popular among boutique financial services firms seeking a prestigious West End base.
Tim Giles, Chief Operating Officer at Executive Offices Group says, “We’re proud to have been chosen by Cadogan Estate to manage the operation of this historical building. We will be working with Cadogan to develop their serviced office brand to sit alongside our existing brands – Argyll, Palladia, Corpnex and Grosvenor Serviced Offices.
“The Cadogan joint venture comes as part of our aim to develop our portfolio by seeking new expansion opportunities. We are currently in the market for further acquisitions and are looking to take on new, similar partnerships, each with its own merits.”
Emma Southwell, Director of Asset Management at Cadogan Estate comments, “We selected Executive Offices Group due to the high quality of serviced office operation they provide which is compatible with our business aim of delivering top quality flexible space to small and new businesses entering Chelsea”.
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