New Bridge Street, Blackfriars

🏗️ Project Case Study: New Bridge Street, Blackfriars

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📍 Location

New Bridge Street, Blackfriars, London EC4V 6A

A prestigious central London address, just steps from Blackfriars Station, St. Paul’s Cathedral, and the River Thames — ideal for professional service firms.

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🏢 Property Overview
• Asset Type: Mixed-use commercial
• Size: Approx. 897.6 m²
• Configuration:
• Ground Floor – Retail/Office unit
• Upper Floors – Multi-level office space with future residential potential (STPP)
• Initial Condition:
Outdated interiors, underutilised layout, poor tenant appeal, and declining rental yield

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🤝 Our Role

MK Estate Group was appointed as consultants to manage and oversee the renovation and re-letting strategy for the entire building. Our brief included:
• Asset repositioning
• Specification upgrades
• Rental value optimisation
• Tenant targeting and lease strategy

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🛠 Renovation Scope

Structural Improvements:
• Full strip-out and reconfiguration of floorplans
• Steel reinforcements for open-plan layouts

M&E Overhaul:
• New HVAC and energy-efficient systems
• Complete rewiring and modern lighting
• Refurbished lift

Design & Finishes:
• Premium commercial-grade flooring
• Suspended ceilings and LED grid lighting
• Marble-clad reception area
• Façade cleaning and brand repositioning

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📊 Results & Impact

💷 Revenue Uplift:
• Before: £500,000 p.a.
• After Renovation & Re-let: £850,000 p.a.
• Net Increase: £350,000 per annum

📈 Updated Asset Valuation: Estimated at £9 million post-refurb
🏢 Letting Success: Target tenants secured from legal, tech, and finance sectors
📌 Yield Post-Completion: ~5.75%

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🏆 Key Outcomes

✅ Advised and implemented full-scale building upgrade
✅ Repositioned asset in the competitive City fringe market
✅ Increased floor efficiency and commercial appeal
✅ Significantly boosted rental income for client
✅ Delivered a strong return on investment through smarter re-letting strategy