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Fri April 16 2021

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Mace sells Aldgate buildings for £110m

9 Jun 15 The widening reach of Mace from project manager to main contractor to developer has been consolidated by the sale of a building complex in London.

Mace has sold Assam Place
Mace has sold Assam Place

Mace has completed the sale of Assam Place to Greystar Real Estate Partners for £110m.

Assam Place is a self-contained campus of three buildings in Aldgate. Home to the Hult International Business School, it has 346 student residential rooms and 3,513m2 of university teaching space.

Mace acquired the site in 2010 and then redeveloped and refurbished the part-listed building, which was fully occupied in September 2012.

Chief operating officer David Grover said: “There was a lot of interest when we first put the development for sale on the open market and I’m delighted that we’ve found an ideal buyer with Greystar. This was a perfect project for Mace investment giving us the opportunity to develop, construct, let, and then sell the asset, which allows us to reinvest the capital into future projects.”

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