Barwood Capital acquires key Richmond office building for £12.9m

Barwood Capital’s Growth Fund IV (“GFIV”) has purchased Eton House, a 32,774 sq ft office building in the heart of Richmond, which it will reposition to outstanding and sustainable office space.

In a move that marks the first office acquisition for GFIV and Barwood’s return to the office sector since 2016, the purchase will see the building undergo a full back-to-frame refurbishment with an additional floor of office accommodation and roof terrace, targeting a BREEAM rating of Excellent.

Eton House became vacant in November 2021 and was acquired from Aviva Life & Pensions UK Ltd for £12.9m, equating to £394 per sq ft.

“The pandemic has accelerated existing themes in the office sector where well specified office space with a keen focus on ESG credentials continues to outperform. Our refurbishment strategy for this asset aims to deliver such space into a supply constrained market.” said Adam Smith, Asset Management Director at Barwood Capital.

Charlie Bishop, Director at Moorevale, the development manager for the scheme, added: “Our refurbishment project will have a big focus on sustainability, delivering a best-in-class building that will offer its customers a range of amenity options.”

Barwood Capital was advised by James Leach at ACRE Capital Real Estate. JLL represented the vendor.



For more information about our business or to enquire about one of our property assets, please contact us via our enquiry form today and we'll be in touch.