Hoxton office occupier snaps up Aviva portfolio

Aviva Investors has offloaded a portfolio of three grade-A office freeholds in London’s Hoxton to a corporate occupier of one of the properties. The owner put 293 Old Street, EC1, 43-44 Hoxton Square, N1, and 33-35 Hoxton Square, N1, up for sale for £27.5m earlier this year. The UK arm of Canva, a graphic design platform that leased space in 33-35 Hoxton Square, has now bought the portfolio for roughly £23m. The portfolio totals 32,379 sq ft. Former textile warehouse 293 Old Street, or the Bersey Warehouse, is 12,956 sq ft, while The Rutherford at 43-44 Hoxton Square, is a former music studio of 6,901 sq ft. 33-35 Hoxton Square is known as The Digital Garage and has 12,522 sq ft of space. All of the properties, which have EPC B ratings, generate total topped up rent of just under £2.1m a year, equalling £63.60 per sq ft. Other occupiers in the portfolio include recruitment agency Few & Far and Peckwater Investments, a delivery franchise for kitchen operators. Compton acted for Aviva. Check out occupational sale comparables in Hoxton >> Photo © Hoxton Campus