In February 2017 Linton Reid acquired a plot with two office blocks of c. 60,000 sq ft located on Wellesley Road in central Croydon, 350m from East Croydon station. It is the book end site to the £1.5bn Westfield and Hammerson retail development and in close proximity to the newly opened Box Park at East Croydon and Ruskin Square development.
11 Wellesley Road was acquired with vacant possession and subsequently Linton Reid undertook a high quality design led refurbishment of the entire building. In 2018, a strategy commenced to let the offices on a floor by floor basis with a goal of creating a diversified income stream from multiple tenants.
Linton Reid identified the combined site as having substantial redevelopment potential, being located in the Tall Building Zone with the Develop Croydon plan and as such a number of architectural feasibility studies have been undertaken.
This holding represents an excellent opportunity to maintain a strong and growing income stream, whilst retaining excellent prospects for a landmark residential led tower in the medium to long term.