Aviva Investors buys London office asset from Moorfield opportunistic fund
The UK insurer-owned asset manager said it acquired Aurora in Ealing from Moorfield Real Estate Fund III (MREF III) for an undisclosed sum.
Aurora consists of five floors and 77 parking spaces and is currently let to Regus and Synchronoss. 13,419sqft is currently vacant.
Aurora is the third office acquisition in Ealing by Aviva Investors, following the acquisition of Ealing Gateway in 2017 and Ealing Cross in 2014.
James Lawlor, the UK director of investment transactions for real estate at Aviva Investors, said, the transaction will facilitate the continued growth of Aviva Investors’ office cluster in Ealing.
“This is a key office market for us, which we believe will see continued and improving occupier demand and rental growth.
”The location has been subject to significant recent investment, improving its ability to attract high-quality tenants, while the opening of Crossrail in 2019 will be a major boost for the area.”
Charles Ferguson-Davie, CIO at Moorfield, said: “We acquired a number of assets in MREF III, including Aurora, Ealing, to take advantage of major infrastructure improvements such as Crossrail.
“We completed a successful refurbishment of the whole building, with our joint venture partner XLB Property, and were able to lease the majority of the building at record rents for Ealing.”