HUB has acquired 45 Beech Street in the City of London for £30m, in partnership with Bridges Fund Management.

The deal marks the 11th acquisition together, and the partnership intends to refurbish the office building into a residential scheme.

Located on the edge of the Barbican Estate, the property will be redeveloped by HUB subsidiary HubCap, which was launched earlier this year. The firm targets low-carbon city centre residential projects across the UK through the reuse of existing buildings and optimising operational carbon savings.

HubCap’s redevelopment of 45 Beech Street is its largest deal to date, and will focus on preserving the character of the building. A community consultation will be launched in the coming weeks to shape the plans for the site in close collaboration with existing residents.

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