The sale of 33 Central by HB Reavis, advised by Gerald Eve, has been named ‘City Deal of the Year’ at the 2017 OAS Development Awards.
Developer HB Reavis forward sold the 227,000 sq ft office building to US bank Wells Fargo in July 2016, representing a significant vote of confidence in The City’s property market and financial sector prospects following the Brexit vote the previous month.
33 Central is HB Reavis’ first London development, which it had originally intended to retain and lease but opted to sell to Wells Fargo following initial leasing discussions with the bank. Wells Fargo will take occupation of the building on completion of construction work in Q3 2018.
Steve Johns, partner at Gerald Eve, said: “As one of the largest owner-occupier deals this cycle, Wells Fargo’s acquisition of 33 Central was a considerable boost to The City’s occupational and investment markets. There was, and continues to be, much post-referendum debate as to how Brexit would affect these markets, but this deal gave reason for confidence in the Square Mile’s ability to continue as a leading financial centre.”
Winners were announced by broadcaster James Naughtie at the OAS Development Awards ceremony, held at the Tower of London on Friday 16th June.