August 21, 2008 - London, Ontario - The Redbourne Group has entered London’s commercial real estate market as the new owner of London’s City Centre towers located at 275 Dundas Street (Tower A) and 380 Wellington Street (Tower B). The purchase of the buildings was completed in August 2007 for more than $50-million. Now, Redbourne is investing an additional $1-million in renewal and maintenance on the towers.
To re-establish this premier core address as a shining example for merchants, corporate tenants and citizens of London, Redbourne has begun an extensive cleaning to the exterior of both towers.
“The building facades are being cleaned from top to bottom and we are making significant improvements to renew pride in our complex,” said Allan Taylor, Redbourne’s Senior Vice President, Leasing. The work we’re doing now is great for our office tenants and will also help generate more traffic for our main level retail tenants.”
In addition to purchasing City Centre, Redbourne has established a local management office which employs 10 people within the tower complex. Peter Vandusen, Vice-President-Asset Management, has returned to his hometown of London from Oakville, Ontario to manage the City Centre complex. “We’re in London to stay. Our staff live and work in London and we are excited with the potential for City Centre as well as for other properties we would consider purchasing,” said Vandusen.
“We look forward to the positive changes that Redbourne is making to the towers,” said David Farough, General Manager, Corus Radio London, whose company leases space within the building. “Redbourne has opened new channels of communication with the tenants.”
MainStreet London welcomes Redbourne as London’s newest real estate owner and embraces their commitment to revitalization. “Many of Redbourne’s planned initiatives tie in with MainStreet’s objectives and we hail the company’s investment to their buildings’ facade and their planned improvements to the City Centre complex,” said Janette MacDonald, General Manager of MainStreet London.
In Ontario, Redbourne currently manages 1.75-million square feet of real estate and has recently launched a second realty fund to expand their ownership of properties located where they currently have a presence. With a market valuation of approximately $800-million, Redbourne holds such properties as Place Montreal Trust and Tour Telus in Montreal. Redbourne has made significant investments in computer and property management infrastructure to ensure the highest quality of management to its tenants. Redbourne’s corporate head office is located in Montreal, Quebec and employs 90 people across Canada.
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For more information:
Seed Communications, media relations for Redbourne Group
info@seedcreative.ca or call 519-645-2999, x2.
