Paris, January 10, 2019 – Eurazeo Patrimoine, the Eurazeo division dedicated to investment in real
assets, and in particular to Real Estate, has announced the acquisition of Euston House, a London
office building, alongside Arax Properties.
The Euston House office building, which is a freehold, was acquired for approximately €105 million,
with a Eurazeo equity investment commitment after financing of around €40 million. Euston House
has a surface area of approximately 11,000 m² (119,000 sq ft). It is located in the London Borough of
Camden, which comprises a large number of healthcare and educational institutions and recently has
seen a transformation around the King’s Cross St. Pancras and Euston railway stations due to the
world’s leading technology and media companies such as Google, Facebook and Universal renting or
building large office complexes for their European or UK headquarters. The area also benefits from
excellent transport links to the North of England, Europe (through the Eurostar to Paris, Amsterdam
and Brussels) and is expected to benefit from the planned second British high-speed line HS2 which
is to link London to Birmingham, Manchester, Leeds, Edinburgh and Glasgow.
The building is fully leased until 2022 and will therefore provide a secure rental income and ultimately,
strong rental reversion potential. A refurbishment program will be implemented to capture this potential
and significantly enhance the asset’s value.
Renaud Haberkorn, Managing Partner of Eurazeo Patrimoine, said: “Contrary to the Continental
European markets, where values have soared over the past three years, the London office market
experienced a slight correction recently, despite rental demand remaining strong. The Euston House
investment has tremendous value creation potential in one of London’s most dynamic and wellconnected markets. Building on this initial London investment, Eurazeo Patrimoine will be well placed
to seize any further opportunities that arise.
About Eurazeo
o Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under
management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable
private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies
of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector
expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid
institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment
horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and
Madrid.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
