CBRE GI buys London office building for separate account client

CBRE Global Investors has acquired a 229,129sqft Grade A office building in London on behalf of an unnamed international separate account client.

CBRE GI said it has bought Premier Place from Greycoat and an affiliate of Morgan Stanley Real Estate Investing for an undisclosed sum.

The nine-storey office building, fully let to two office tenants, has three retail units on the ground floor and also has three basement levels.

Chris Gilchrist-Fisher, senior director, CBRE Global Investors, said: “This is an opportunity to acquire a prime office in an excellent location with weighted average unexpired lease terms of 15 years and let to two strong covenants. It’s a strong addition to our client’s portfolio.”