Knight Frank appointed to sell Clearbell’s Covent Garden landmark The Kodak
Knight Frank, the leading global real estate advisor, has been appointed by Clearbell Property Partners III LP (Clearbell), a fund managed by real estate fund management and advisory firm Clearbell Capital LLP to market the sale of The Kodak, an iconic office and retail building located on Keeley Street, Covent Garden. Offers are invited in excess of £80.38 million, reflecting an attractive net initial yield of 6.50%.
23 September 2026
Clearbell has undertaken a comprehensive repositioning of the asset since acquisition in 2019, combining targeted investment in the building with an active leasing strategy that has brought The Kodak to near-full occupancy.
Named after its legacy as the former European headquarters of global technology company Eastman Kodak, the award-winning space has been comprehensively redesigned and upgraded to deliver best-in-class workspace in a vibrant and well-connected part of Central London. The building comprises 71,703 sq ft of office, retail and ancillary accommodation across a basement, ground and seven upper floors, alongside an extensive range of high-quality amenities including a dual-aspect reception, communal roof terrace, new lifts, meeting suite and cycle storage. Having achieved an EPC rating of A and BREEAM Excellent, The Kodak also boasts bestin-class sustainability credentials.
The one remaining vacant floor is currently under offer and, upon completion, will take the building to 100% occupancy, with circa 70% of rental income secured against high-quality A1 rated tenants including MASECO. Recent lettings include 8,144 sq ft to media agency John Ayling & Associates, 2,761 sq ft to not-for-profit advertising industry body IAB UK and 1,856 sq ft on the ground floor to Japanese dining concept Omusubi.
Recent lettings at neighbouring commercial properties have achieved rents of up to £142.50 per sq ft this year, demonstrating strong occupier demand for state-of-the-art workspace in this prime Central London location.
The site is exceptionally well-connected, with London’s Underground, Elizabeth Line, National Rail and Thameslink networks all within walking distance, granting easy access across London and beyond. The surrounding area is home to a vibrant mix of office, retail, leisure and cultural amenities, underpinning its appeal as one of London’s most sought-after destinations.
Ollie Thornton, Partner at Knight Frank, commented: “The Kodak offers a compelling opportunity to acquire a fully stabilised freehold with best-in-class sustainability credentials in the heart of one of Central London’s most desirable locations. With rents averaging £75.00 per square foot across the building, the asset offers significant
reversionary potential in the context of recent leasing transactions in the immediate vicinity, offering attractive scope to drive performance over the duration of an investor’s business plan.”
Alice Murray, Head of Asset Management & Sustainability at Clearbell Capital, commented: “The Kodak is a strong example of our approach to active asset management. Through targeted investment in the building, we’ve been able to protect the building’s distinctive heritage while delivering the high-quality, sustainable workspace that today’s occupiers are looking for. The strength of the leasing activity since the refurbishment - including the calibre of tenants we’ve attracted - reflects that strategy. With the building now approaching full occupancy, we believe it’s well positioned for the next phase of ownership.”
Notes to editors
Knight Frank LLP is the leading independent global property consultancy, serving as our clients’ partners in property for 130 years. Headquartered in London, the Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.
