Greenridge secures prime London leisure and retail hub

Greenridge Investment Management has purchased One Tower Bridge, a prominent leisure and retail complex in London, UK.

One Tower Bridge

The complex spans approximately 7,757 m2 on London's Southbank, next to Tower Bridge and City Hall.
This acquisition, from Redevco, is the first London investment for Greenridge's £150 mln (€175.7 mln) Greenridge Opportunities (GO) fund, which has already seen significant success across the UK.
The One Tower Bridge property is located in a highly sought-after area, offering views along the River Thames and housing 14 commercial units. These units are largely occupied by well-known food and beverage establishments and cultural venues, such as The Ivy Restaurant, Vapiano, Sainsbury's, Rosa's Thai, and the Bridge Theatre, with 86% of the rental income linked to inflation. 
Greenridge plans to implement a strategy to boost income and asset value through lease agreements, rent reviews, and commercial activities that capitalise on the location's appeal.
Alex Walker, partner at Greenridge, commented: “Today’s announcement demonstrates our conviction in the long-term resilience of prime London leisure and retail properties, as well as the UK capital’s enduring appeal as a global investment destination. One Tower Bridge offers an exceptional tenant profile in an iconic riverside location, aligning perfectly with our strategy of targeting high-quality, income-generating opportunities in established urban sub-markets.”
Paul Simmons, co-founder at Greenridge, added: “The acquisition of One Tower Bridge is further proof of our ability to leverage three decades of investing and relationship-building to source and execute complex transactions, acquiring highly attractive assets at compelling price points.”
Greenridge has so far transacted on over £3.3 bn (€3.8 bn) of UK & European real estate.