C-Space, Shoreditch

We used our knowledge of London’s sub-markets to focus on off-market opportunities in Shoreditch, knowing the growing tech and creative area met PGIM’s strategy. We then used our relationships with potential vendors to identify the off-market opportunity at C-Space. The building is 63,500 sq ft of creative Grade A workspace with a lease structure that will allow PGIM to move to a net zero carbon asset in the future. C-Space was purchased for a price in the region of £90 million reflecting a 4% net initial yield.