We are pleased to have sold the Aurora office building in Ealing on behalf of MREFIII having achieved our business plan earlier than expected. Aurora comprises c.50,000 sq ft of grade A office space and new leases at record rents for the area were recently agreed with Spaces (Regus) and Synchronoss following a complete refurbishment carried out in partnership with XLB.
We acquired a number of assets in MREF III, including Aurora, to take advantage of major infrastructure improvements such as Crossrail and this will remain a theme for MREFIV, our latest fund that is looking for new opportunities. The other themes for MREFIV include residential Build to Rent (BTR), student accommodation, logistics and mixed-use projects.