KanAm buys central London office from Hanwha Life

German fund manager KanAm has been confirmed as the buyer of London office tower owned by Korea’s Hanwha Life.

Aerium, acting on behalf Hanwha Life, sold One Wood Street after hiring CBRE to market the building last year. 

Robin Carr, head of UK and co-chief investment officer at Aerium, said: “Having managed this asset for the past eight years, initially under our own ownership and latterly on behalf of Hanwha Life, we’re intricately aware of its appeal as a unique investment proposition.

“With our asset management programme now having been successfully executed, we’re handing One Wood Street over to KanAm Grund Group in prime condition and with the benefit of a strong covenant providing long-term stable income.”   

As reported last year, Aerium was expecting offers of around £190m (€220m) for the building.

The company paid £105.5m for the asset in 2009, before selling it to the Korean insurance group for £143.5m in 2012, remaining as asset manager.

The 184,150sqft building is fully let to law firm Eversheds Sutherland at an average rent of £48 per sq ft.

The deal is Kanam’s third in the City of London in the past four months.