The Property Ticker: Derwent completes Horseferry House and 80-85 Tottenham Court Road disposals; PHP completes debt refinancing; Sephora and Papier pick Heal’s Building for UK HQ... and more

Research evidence excerpt

The Property Ticker: Derwent completes Horseferry House and 80-85 Tottenham Court Road disposals; PHP completes debt refinancing; Sephora and Papier pick Heal’s Building for UK HQ... and more

ting ongoing deleveraging efforts.

(Source: Company)

• Sephora and Papier pick Heal’s Building for UK headquarters: KKR and General

Projects have secured three new office lettings at the refurbished Heal’s Building on

Tottenham Court Road, taking occupancy to 94%. Sephora has signed a 10-year lease for

15,000 sq ft and will relocate in October 2026, while Papier (5,000 sq ft) and marketing

agency Eight&Four (4,000 sq ft) have already moved into the scheme. The lettings

highlight continued demand for high-quality, amenity-rich office space in London's West

End, where availability remains limited.The Grade II-listed mixed-use asset underwent

a £20m refurbishment before re-opening in 2024, combining modern workspace with the

building’s historic retail heritage. Only around 12,000 sq ft remains available, comprising

3,000 sq ft of Grade A office space and c.9,000 sq ft for leisure or alternative uses.

Management noted strong tenant interest, with the building’s combination of heritage,

design credentials and modern amenities proving attractive to occupiers. (Source:

CoStar)

• Solihull office set for take-off with £18.7m sales launch: Abrdn Life Pensions has put

Ingenuity House, an 82,000 sq ft multi-let office asset close to Birmingham Airport and

the future HS2 Interchange station, up for sale with a guide price of over £18.7m,

implying a 9.6% net initial yield. The property is 92% occupied by six tenants including

Allianz, Vistry Homes and Orega, generates c.£1.9m of annual rent and has a WAULT

of 4.7 years to breaks and 5.9 years to expiry. Completed in 2018, the building benefits