Double Success for dohertybaines

dohertybaines have successfully let unit 7 Fairway Drive, Green Lane, Heathrow TW4 to Inviron; the installation, maintenance and management of infrastructure firm.  The unit was let on a 6 year lease and was approximately 11,305 sq ft. It was also fully refurbished prior to marketing.

dohertybaines also let unit 15 Airlinks, which was approximately 2,952 sq ft and also fully refurbished prior to marketing. The premises were let to Multilight, on a 5 year lease.

For more information on the above, please contact Paul Londra.

dohertybaines sells The Matrix Building in Aldgate, London EC3 on behalf of Administrators

Asia-based hotel group Dorsett Hospitality International has bought the Matrix Building, London EC3 for £14.05m from Martin Ellis and Les Ross, partners in Grant Thornton UK LLP and joint administrators of No 9 Aldgate Limited.

dohertybaines advised the joint administrators on the sale of the building which is located adjacent to Aldgate underground station. It comprises 47,720 sq ft of offices and is set to be converted into a hotel by the purchasers. The property would become the group's second hotel in London, joining the Dorsett Londin in Shepherd's Bush, which is under construction and expected to be launched in the first quarter of 2014.

John Connolly, Head of UK Developmet for Dorsett Hospitality International which is headquartered in Hong Kong said: "We are delighted to have completed our second acquisition which demonstrates our commitment to the London Hotel market. We are in a unique position by using our internal financial resources to acquire, develop and operate under a single entity. We are actively pursuing further hotel and residential opportunities in Central London."

dohertybaines partner Rob Nelson who advised the joint administrators on the sale of the freehold and long leasehold interests said: "The price achieved reflected the strength of the location and the redevelopment potential which Dorsett Hospitality International has recognised."